HSBC has raised its year-end goal for the S&P 500 to five,400

HSBC on the lookout for greater S&P 500 by the top of 2024, boosted its goal to 5400.

HSBC citing:

• higher earnings expectations supported by resilient GDP progress, latest earnings beats, and constructive sentiment from corporates within the final earnings season

Extra:

• “Our target is predicated on the Fed cutting rates in June with 75bp total cuts in 2024, in line with consensus and Fed expectations based on the recent dot plot.”

HSBC expects H2 of 2024 to be extra unstable resulting from:

• US presidential election
• elevated earnings expectations
• rising investor clamor from “when” to “how much” the Fed will minimize

Everybody on shares proper now

This text was written by Eamonn Sheridan at www.forexlive.com.