Bank of America Predicts Strong Summer Rally for S&P 500, Sets Sights on 5,600
Thursday, 29 February 2024, 22:55
Bank of America Analysts' Predictions for S&P 500 Rally
Bank of America analysts anticipate a strong summer rally for the S&P 500, pointing to positive market breadth and credit spread improvements. They project a target of 5,600 for the index, citing global market indicators.
Key Insights:
- Analysts highlight the advanced decline line of 73 country indices, showing increasing market breadth.
- Credit spread narrowing is seen as a positive signal for the upcoming rally.
Despite historical patterns, the outlook for the S&P 500 remains positive for the summer months, according to Bank of America.
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