S&P 500 Outpaces Wall Street Projections As Year-End Nears: Will The Rally Hold?
Portfolio Pulse from Shanthi Rexaline
The S&P 500 Index has outperformed Wall Street projections, driven by declining inflation, a resilient economy, and strong corporate profits. The SPDR S&P 500 ETF Trust (SPY), which tracks the index, has gained significantly since October 2022. Analysts predict further upside if the economy avoids a hard landing, with rate cuts expected to boost small-cap and rate-sensitive stocks. However, uncertainty remains due to upcoming elections.
September 23, 2024 | 8:25 am
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The SPDR S&P 500 ETF Trust (SPY) has gained about 65% since October 2022 and nearly 21% this year. Analysts see potential for further gains if the economy avoids a hard landing, supported by recent rate cuts.
SPY, tracking the S&P 500, has shown strong performance due to favorable economic conditions and rate cuts. Analysts expect further gains if the economy remains stable, making SPY a key beneficiary.
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