United States Stock Market Index (US30)

All three main US stock indexes gained ground on Friday, with the Dow Jones and the S&P 500 finishing at record closing levels as a disappointing payroll report eased worries about the Federal Reserve reducing its massive support anytime soon. Nonfarm payrolls increased by 266K only, well below forecasts of nearly one million, while the unemployment rate rose to 6.1%. The report raised concerns of a slower-than-expected jobs recovery and drove investors to the safety trade of big tech. However, such rotation was short-lived, with value-oriented stocks reasserting their dominance again amid prospects of robust economic recovery and cemented expectations that the US central bank will remain ultra-accommodative for the foreseeable future. For the week, the Dow surged 2.7% to snap a two-week losing streak. The S&P 500 added 1.2%. Meanwhile, the tech-heavy Nasdaq dropped 1.5% this week. Historically, the Dow Jones Industrial Average reached an all time high of 34829.91 in May of 2021. The Dow Jones Industrial Average is one of the most closely watched U.S. benchmark indices. It is a price-weighted index which tracks the performance of 30 large and well-known U.S. copanies that are listed mostly on the New York Stock Exchange. The Dow Jones Industrial Average has a base value of 40.94 as of May 26, 1896.