How major US stock indexes fared Friday, 5/3/2024 (2024)

FAQs

How major US stock indexes fared Friday, 5/3/2024? ›

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 Dow Jones Industrial Average gained 450 points, or 1.2%. The S&P 500 jumped 1.3%. The Nasdaq Composite inched 2% higher.

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.

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.

The Dow Jones Industrial Average (DJI) advanced 0.9% or 322.37 points to close at 38,225.66.

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.

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.

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.

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.

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.

Should I pull out of the stock market? ›

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.

Fastly Stock Forecast & Predictions: 1Y Price Target $7.81 | Buy or Sell NYSE: FSLY 2024 | WallStreetZen.

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.

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.

"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.

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.

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.