The blue-chip S&P 500 Index jumped to a record high of $7,513 this month before pulling back to $7,408 on Friday. It has jumped by 7.7% this year and 26% in the last 12 months. Still, Wall Street analysts have maintained their bullish forecasts, which are backed by the soaring corporate earnings.
Analysts Are Bullish On The S&P 500 Index Despite Risks
Most Wall Street analysts are still highly bullish on the S&P 500 Index despite the rising risks. The most notable ones is the ongoing US-Iran war, with President Donald Trump declaring the ceasefire being on life support.
This war has pushed US inflation to the highest point in years. As a result, government bonds have continued rising, with the 30-year crossing the 5% milestone. The benchmark ten-year has jumped to 4.5%.
Analysts believe that the US stocks will defy these risks and continue rising in the coming months. Yardeni Research predicts that the S&P 500 Index will jump to $8,200, while Oppenheimer sees it hitting $8,100.
Deutsche Bank and Capital Economics predict that it …
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