Reported 8 months ago
Wall Street's top analysts are adjusting S&P 500 price targets, foreseeing substantial gains fueled by Federal Reserve rate cuts, strong performance of large-cap tech stocks, and robust corporate earnings growth. The index has seen 30 record closes this year, reaching a 2024 gain of approximately 13.4%. Data from Bank of America show two months of inflows into U.S. stocks, with expectations of further gains as the second-quarter earnings season approaches. Analysts anticipate the S&P 500 extending its record run in the latter half of the year, driven by earnings growth, a dovish Fed, and continued tech stock gains.
Source: YAHOO