A 1.2% rise in the S&P 500 on Tuesday left the index less than 4% below its all-time high and down just 2.8% on the year. The UBS economists expect the S&P 500 index to move slightly higher towards 4,700 points by the end of 2022.
S&P 500 will rise towards 5,100 points if the war in Ukraine ends soon
“Our base case now it’s only a modest rise for stocks, with our forecast for the S&P 500 at the end of the year at 4,700 points, less than 2% more than the current level. This partly reflects risks to corporate profits. We have recently lowered our global earnings growth outlook to 8% (from 10%) for this year, and to 5% (from 7%) in 2023.”
“In our bullish caseof a end soon in the conflict in Ukraine and the disturbances in the commodity markets, we see a bigger rise for the S&P 500, with a year-end forecast of around 5,100.”
“At negative casewith a protracted conflictthe index could end the year around 3,600.
Source: Fx Street
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