S&P 500 has a new record high 2023 price target. Here’s a look at Wall Street’s official stock-market outlook.

Despite the U.S. stock-market rally this year bolstered by the euphoria around artificial intelligence and hopes that the U.S. economy can avoid a recession as inflation falls, stock prices have been anything but simple to predict this year, a challenge exemplified recently by some of the Wall Street’s most prominent analysts.

The new price target represents a roughly 7.1% increase from Tuesday’s closing price for the benchmark index, which has gained 19.2% so far this year, according to FactSet data. Oppenheimer’s more bullish view came a day after Piper Sandler’s Craig Johnson boosted their year-end price target for the S&P 500 to 4,825 from 4,625, citing an improving stock-market breadth, meaning more stocks are advancing than declining which is usually indicative of a stronger and more sustainable upward trend.

Among 20 Wall Street investment banks, brokers and research firms that MarketWatch collects S&P 500 estimates from, nearly half of them have revised upwards their estimates for 2023 in the past two months, according to data compiled by MarketWatch. See: The ‘narrow breadth’ chorus has fallen silent. What broadening participation in stock-market rally means for investors.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

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'
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

U.S. stocks open higher as S&P 500, Nasdaq headed for fifth straight monthly gainU.S. stocks opened higher on Monday, the final session of July, as the three main indexes appeared poised for sizable monthly gains. The Dow Jones Industrial Average was little-changed at 35,470:
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

U.S. stocks finish higher as S&P 500, Nasdaq climb for 5th straight monthU.S. stocks finished higher on Monday, while the S&P 500 and Nasdaq Composite capped off July by recording their fifth-straight month in the green — the...
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »