Reported about 1 year ago
JPMorgan's mid-year outlook anticipates challenges for the US market to sustain its bullish trend, with a pessimistic view on the S&P 500 index for the second half of the year. Analysts even forecast a recession in the US before year-end. Large tech companies' stock prices have surged to extreme levels, constituting 75% of the S&P 500's gains so far. Doubts linger on whether these stocks can maintain profit growth in the latter part of the year, with JPMorgan maintaining a target of 4200 points for the S&P 500 and seeing a 23% downside risk. Some strategists are even more pessimistic, warning of a sudden recession, attributing stock market pressure to weak global economic growth. They have revised the year-end target for the S&P 500 to 3750, suggesting a potential 30% decline by the end of the year.
Source: YAHOO