Reported about 16 hours ago
RBC Capital Markets has revised its year-end S&P 500 target down from 6,600 to 6,200 due to concerns over economic growth, following a recent 10% drop in the index. The firm's economics team now projects 1.6% growth for the U.S. economy, down from an earlier 2% estimate. This trend reflects a broader consensus on Wall Street, as other firms like Goldman Sachs also adjusted their forecasts. With indicators suggesting a potential slowdown, RBC anticipates earnings per share for the S&P 500 will also decrease, complicating the investment outlook.
Source: YAHOO