Wells Fargo said stocks are expected to rise sharply again in 2025, given the strength of the U.S. economy and the potential for President-elect Trump to loosen regulations. Wall Street banks expect the S&P 500 to rise to 6,600 by the end of 2025. The broader market index closed at 5,916.98 points on Tuesday and was last trading near 5,870 points. “Our forecast of strong economic growth, coupled with policies aimed at reducing regulatory costs, should help lift S&P 500 earnings per share to $275, above our previous forecast of $270 and lift S&P 500 The midpoint price target for the index rose to 6,600 from 6,300,” Wells Fargo Investment Institute’s Darrell Cronk wrote in a note. “Earnings growth should receive additional support from reduced regulation,” it continued. “While the timing and amount remain uncertain, corporate tax cuts remain a possibility.” .SPX YTD Mountain S&P 500 Wells Fargo is the latest major company to issue a year-end target for the S&P 500 in 2025, with nearly all stores so far The broad market indexes are all expected to rise about 10% or more. Goldman Sachs’ David Kostin said this week that he expects the S&P 500 to close at 6,500 next year. Morgan Stanley’s Mike Wilson issued a similar outlook, targeting shares at 6,500. BMO Capital’s Brian Belski expects that number to rise to 6,700; UBS to 6,400. According to a CNBC market strategist survey, Cronk entered 2024 expecting the S&P 500 to end the year at 4,700 points, and later raised his target to 5,400 points. Both forecasts proved too conservative for the index to break 6,000 points this year. Wall Street is in the third year of a bull market, with stock market gains expected to be weaker than the previous two years. The S&P 500 soared 24% in 2023 and is up more than 23% this year.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved