The S&P 500 prediction

The S&P 500 will rocket 18% by year-end as the economy stays strong and the Fed ends interest rate hikes, Oppenheimer investment chief says
https://finance.yahoo.com/news/p-500-rocket-18-end-232429942.html

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Summary

John Stoltzfus, the chief investment strategist at Oppenheimer, believes that the S&P 500 could soar another 18% by year-end, as the economy stays strong and the Fed ends its rate hike cycle.

Stoltzfus's prediction is based on the following factors:

The economy is strong, with GDP growing 4.9% in the third quarter.
Corporate earnings have held up well, with 73% of S&P 500 companies that have reported third-quarter earnings beating analysts' estimates.
Treasury yields at 4%-5% are fairly normal by historical standards.
Stoltzfus believes that the Fed is likely to end its rate hike cycle, which would be bullish for stocks. Markets are expecting interest rate cuts by mid-next year, with investors pricing in an 80% chance that rates could be lower than their current level by July 2024.

Stoltzfus has been one of Wall Street's most bullish forecasters, despite concerns brewing in markets over surging bond yields and the potential of a recession on the horizon.

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Comment

We don't know how much the bullish forecasters will be right about the index, but what we do know is that the market is already at the top of one market.

In other words, inflation is continuing but no longer rising at an unpredictable rate, and interest rates are at a high point, indicating that the peak is not far off, although it is likely to rise a bit more.

You can see that the stock market will rise and fall with the direction of interest rates, and if the market goes to extremes in one direction, it will soon head in the opposite direction with a top.