Wall Street strategists expect U.S. stocks to end 2022 above current beaten-down levels but some warned of turbulence on concerns inflation and aggressive interest rate rises crimps economic growth and unnerves investors, a Reuters poll found.
The S&P 500 is down more than 16% since the start of the year, with the war in Ukraine and COVID-19-related lockdowns in China adding to the long list of worries for investors. Slightly more strategists in the poll said they saw volatility as likely to increase in the coming months rather than decrease.
“Inflation and the Fed are like a dial that have been increasing the pressure on the economy,” he said. “By the time we get to the end of this year, inflation will have come down from where it is now, and the direction will be clear.” Wells Fargo expects the S&P 500 to end this year at 4,300.Corporate results from major U.S.
S&P 500 earnings are estimated to grow 9.3% in 2022 from a year ago, and that estimate is up from 8.8% at the start of April, according to IBES data from Refinitiv.
Well if a poll said it….
Well then, those million covid deaths were worth it.