Recent economic and earnings data have reinvigorated confidence among JPMorgan traders that US equities are on track to rebound before the end of the year. The team led by Andrew Tyler, head of US market intelligence, said there were signs that the economy was still expanding, corporate earnings growth was positive and the Federal Reserve was on track to ease monetary policy.
"While the upside appears to be weaker than when we took that stance earlier this year, there is still substantial upside," he said, predicting the S & P 500 would hit a record high before posting a positive fourth quarter.
JPMorgan Chase: The S & P 500 index will reach a new high
2024-08-19 12:59:00
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