Wall Street closed in the red on Friday, after Chinese officials due to visit US farm states next week canceled their visit to Montana, raising doubts on whether a trade deal can be struck soon. Earlier, trade negotiators had resumed face-to-face talks for the first time in almost two months and Washington announced it will exclude hundreds of items from the import tariffs on Chinese goods. President Trump said during a press conference that while progress has been made, he is looking for a “complete deal”. On the corporate side, Netflix shares tumbled after CEO Reed Hastings admitted to Variety “tough competition” as new streaming entrants like Disney and Apple nudge production costs higher. The Dow Jones closed down 0.6%; the S&P 0.5%; and the Nasdaq 0.8%.
. Historically, the Dow Jones Industrial Average reached an all time high of 27398.68 in July of 2019 and a record low of 28.48 in August of 1896.
The Dow Jones Industrial Average is expected to trade at 26726.25 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 25625.87 in 12 months time.