The stock market swoon that began in late summer may have taken the hopes for a massive year off the table, but equities could still rally going into 2024, according to Oppenheimer. John Stoltzfus, the firm's chief investment strategist, said in a note to clients on Monday that he was cutting his year-end 2023 target for the S & P 500 to 4,400 from 4,900. The new target is still nearly 7% above the index's close of 4,117.37 on Friday. .
"We remain positive on equities and view fixed income as highly complementary for diversification purposes though not broadly competitive with equities over the mid- to longer term," Stoltzfus continued. Oppenheimer's new target is still above the average of 4,358 in the CNBC Market Strategist Survey . Stoltzfus previously had the highest target among major Wall Street strategists tracked in the survey.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: AP - 🏆 728. / 51 Baca lebih lajut »
Sumber: wjxt4 - 🏆 246. / 63 Baca lebih lajut »
Sumber: ksatnews - 🏆 442. / 53 Baca lebih lajut »