The S&P 500 will end the year slightly above its current level after a recent recovery that has lifted the index from its bear market lows, according to a new Reuters poll among strategists released early Wednesday in Asia.
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The benchmark will end this year at 4,280, according to the median forecast of nearly 50 strategists surveyed by Reuters over the past two weeks. This is 3.4% higher than Monday’s close at 4,137.99.
The median forecast for 2022 is lower than the 4,400 in a Reuters poll in late May.
Strategists in the latest Reuters poll expect the S&P 500 continues to rise in 2023 and reaches 4,408 mid-year, according to the survey’s median forecast.
Analysts’ estimates for full-year earnings growth have dipped slightly since early July, but still see 8% growth for 2022, according to the data.
Investors are concerned about whether earnings can grow fast enough to support stock valuations, especially with the recent rally.
The S&P 500’s 12-month price-earnings ratio now stands at around 18, up from 22 at the end of December and its long-term average of around 16, according to Refinitiv data.
Source: Fx Street
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