Stock Market Outlook: S&P 500 on track for 28% gain this year

The S&P 500 is on track to gain as much as 28% this year, according to Oppenheimer's chief market strategist John Stoltzfus.since January, raised his S&P 500 target for the year to 4,900. That implies an 8% rise from current levels and a 28% increase from levels at the beginning of the year.

Investors have turned more optimistic as inflation trends lower, a sign that the Fed's rate hikes are working. Central bankers raised interest rates aggressively over the last year to tame inflation, a move that raised the risk of recession and caused the S&P 500 to sink 20% in 2022., thanks to inflation easing without unemployment spiking. Meanwhile, growth remained solid, with GDP rising 2% the past quarter, per the latest estimates.

"Capitulation by stock market bears on a near wholesale basis of late … suggests that money held on the sidelines may flow into stocks in the months ahead," Stoltzfus said.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stock market outlook: New record for S&P 500 'feels inevitable'Why JPMorgan's trading desk says a new record high in the S&P 500 'feels inevitable'
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Marriott beats earnings expectations and raises outlook, but stock pulls back from record highMarriott International Inc. reported Tuesday second-quarter profit and revenue that beat expectations, with particular strength in its international regions,...
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

Qualcomm stock slips further after hours as outlook overshadows earnings beatQualcomm shares declined further in Wednesday's extended session as the chip maker's forecast was on the low side of Wall Street estimates.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »