above 3,800, surpassing Bank of America's year-end target of 3,800 for the S&P 500 for 2021.
The move toward the target was expected. Subramanian said it was likely the S&P 500 would move up and down over the course of the year. A December report from Bank of America analyst Stephen Suttmeier said there was the potential to reach 3,830 and 3,835, based on bullish sentiment in early 2021. Just as investors are bullish, so are the Bank of America equity analysts on stocks for 2021, emphasizing that 70% of S&P 500 stocks are trading at a higher dividend yield than theBank of America analysts in November predicted that the 10-year yield will rise to 1.35% by the third quarter of 2021.
Now the new year has kicked off, Bank of America has released a report on January 4 outlining the stocks investors should bet big on for the first quarter of 2021. The analysts are overweight financials, energy, health care, while underweight on staples, communication services and real estate. While their key themes focus on value and small-cap stocks as well as themes around the post-COVID world, the global to local ecosystem and inflation.