No 'Textbook' Recession Anytime Soon, Says Stifel Strategist: Here's What He Said About The S&P 500
Portfolio Pulse from Bhavik Nair
Stifel's chief equity strategist, Barry Bannister, predicts no textbook recession soon and expects the S&P 500 to level out around 4,400 in Q3. He believes the stock market rally will continue at a gradual pace, with cyclical value catching up in a P/E-led rally.
June 07, 2023 | 12:36 pm
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Stifel strategist expects the stock market rally to continue at a gradual pace, with cyclical value catching up in a P/E-led rally.
Barry Bannister's prediction of a continued stock market rally at a gradual pace, with cyclical value catching up in a P/E-led rally, is likely to have a positive impact on the QQQ ETF, which tracks the NASDAQ-100 index.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Stifel strategist expects the S&P 500 to level out around 4,400 in Q3, indicating a continued stock market rally at a gradual pace.
Barry Bannister's prediction of the S&P 500 leveling out at 4,400 in Q3 suggests a continued stock market rally, albeit at a slower pace. This is likely to have a positive impact on the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80