By THE ASSOCIATED PRESS
Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year]
Stocks closed sharply higher on Wall Street, erasing their losses for the week, after the government reported a cooldown in hiring last month.
For markets that was a welcome sign that the Federal Reserve’s efforts to fight inflation by slowing the economy with high interest rates might be making some progress. The S&P 500 rose 1.3% Friday, its biggest gain since February. The Dow Jones Industrial Average rose 1.2%. and the Nasdaq composite climbed 2%.
U.S. employers added 175,000 jobs last month, down sharply from a big increase in March. Apple jumped after announcing a mammoth $110 billion stock buyback.
On Friday:
The S&P 500 rose 63.59 points, or 1.3%, to 5,127.79.
The Dow Jones Industrial Average rose 450.02 points, or 1.2%, to 38,675.68.
The Nasdaq composite rose 315.37 points, or 2%, to 16,156.33.
The Russell 2000 index of smaller companies rose 19.61 points, or 1%, to 2,035.72.
For the week:
The S&P 500 is up 27.83 points, or 0.5%.
The Dow is up 436.02 points, or 1.1%.
The Nasdaq is up 228.43 points, or 1.4%.
The Russell 2000 is up 33.72 points, or 1.7%.
For the year:
The S&P 500 is up 357.96 points, or 7.5%.
The Dow is up 986.14 points, or 2.6%.
The Nasdaq is up 1,144.98 points, or 7.6%.
The Russell 2000 is up 8.65 points, or 0.4%.
FAQs
On Friday: The S&P 500 rose 63.59 points, or 1.3%, to 5,127.79. The Dow Jones Industrial Average rose 450.02 points, or 1.2%, to 38,675.68. The Nasdaq composite rose 315.37 points, or 2%, to 16,156.33.
What was the S&P 500 on May 3 2024? ›
The Dow Jones Industrial Average gained 450 points, or 1.2%. The S&P 500 jumped 1.3%. The Nasdaq Composite inched 2% higher.
What will the S&P be at the end of 2024? ›
The benchmark S&P 500 (. SPX) , opens new tab will end 2024 at 5,600 points, according to the median forecast of 41 equity strategists, analysts, brokers and portfolio managers collected Aug. 8-20. The index closed at 5,608 on Monday.
What is the stock market prediction for 2024? ›
Overall, Yardeni Research forecasts S&P 500 operating earnings at $250 in 2024, up 12% vs 2023. He puts them at $270 in 2025 (up 8%) and $300 in 2026 (up 11.1%). These figures compare with analysts' consensus forecasts of $244.70 in 2024, $279.70 in 2025 and $314.80 in 2026.
What was the Dow Jones on 5 3 24? ›
The Dow Jones Industrial Average (DJI) advanced 0.9% or 322.37 points to close at 38,225.66.
Will the S&P continue to rise? ›
S&P 500 forecast
Wall Street analysts are projecting S&P 500 companies will continue to report steady earnings growth. They forecast a 5.4% earnings growth in the third quarter and 15.7% earnings growth in the fourth quarter. Still, the S&P 500's forward price-to-earnings ratio is 20.2.
Is now a good time to invest in the S&P 500? ›
Also, research suggests that when it comes to the S&P 500's historical returns, there's never been a bad time to buy as long as you're a long-term investor.
What is the expected return of the stock market in the next 10 years? ›
Other long-term forecasts, compiled by Morningstar, show U.S. equities returning between 4-7% on average over the next 10-15 years, with higher expectations for international stocks. In most cases, these predictions still see U.S. stocks outperforming U.S. corporate bonds.
What is the stock market outlook for 2025? ›
The Fed's median forecast for 2025 is 4.1%, while nearly all market participants currently see rates below 4.1% by September 2025, according to the CME FedWatch Tool.
What is the Bank of America forecast for the S&P 500 in 2024? ›
The firm reiterated its year-end forecast for the US stock gauge of 5,400, roughly in line with where it is now after gaining around 15% so far in 2024.
Instead of selling out, a better strategy would be to rebalance your portfolio to correspond with market conditions and outlook, making sure to maintain your overall desired mix of assets. Investing in equities should be a long-term endeavor, and the long-term favors those who stay invested.
What is fastly stock price prediction for 2024? ›
Fastly Stock Forecast & Predictions: 1Y Price Target $7.81 | Buy or Sell NYSE: FSLY 2024 | WallStreetZen.
How much will S&P be worth in 10 years? ›
Stock market forecast for the next decade
Year | Price |
---|
2026 | 5950 |
2027 | 6200 |
2028 | 6725 |
2029 | 7300 |
5 more rowsAug 16, 2024
What does the Dow look like for 2024? ›
The agency forecasted Dow Jones will close in 2024 at 38818 points. The updated Dow Jones price prediction for the next 5 years is for the index to trade around 40,600 points.
What was the worst day in Dow history? ›
Largest daily percentage losses
Rank | Date | Change |
---|
% |
---|
1 | 1987-10-19 | −22.61 |
2 | 2020-03-16 | −12.93 |
3 | 1929-10-28 | −12.82 |
17 more rows
What is the best day in Dow Jones history? ›
The Dow Jones Industrial Average (DJIA) hit its record high on May 16, 2024, reaching 40,051.05 points during intraday trading. The Dow's all-time high at market close stands at 39,908.00, reached on May 15, 2024.
Where will the S&P be in 2025? ›
"We continue to expect the US to enter a recession in late-2024 or early-2025." "We expect the S&P 500 to drop to 3750 in 2025 and the 10-year Treasury yield to fall to 3%," BCA adds.
What is the return of the S&P 500 for the last 3 years? ›
Basic Info. S&P 500 3 Year Return is at 24.89%, compared to 25.64% last month and 28.78% last year. This is higher than the long term average of 23.28%. The S&P 500 3 Year Return is the investment return received for a 3 year period, excluding dividends, when holding the S&P 500 index.
What is the performance of the S&P 500 in July 2024? ›
Weekly development S&P 500 Index 2024
The index began to recover at the start of April and reached a peak in December 2021. As of July 14, 2024, the weekly value of the S&P 500 stood at 5,667.2 points.
What will be the price of s&p500 in 2030? ›
Stock market forecast for the next decade
Year | Price |
---|
2027 | 6200 |
2028 | 6725 |
2029 | 7300 |
2030 | 8900 |
5 more rowsAug 16, 2024