As 2023 begins gearing up for the lengthy haul, Wall Street remains to be taking a bearish view of the markets. We’re nonetheless coping with the identical headwinds, a mixture of stubbornly excessive inflation, quickly rising rates of interest, gloomy financial indicators, the persevering with conflict in Ukraine, uncertainty over China’s lockdown insurance policies, a provide chain that’s solely slowly unsnarling itself… the checklist can go on.
But regardless of the grim outlook proper now, there are nonetheless some alerts that give causes for longer-term optimism. Weighing in from Bank of America, a crew of analysts report that the Bank’s ‘Sell Side Indicator’ is nearing a ‘Buy’ sign – and so they use that sign to assist their prediction of a 16% achieve on the S&P 500 throughout 2023.
The Sell Side Indicator tracks the Wall Street strategists’ common really useful inventory allocation – and the BofA crew notes that, “the indicator began the 12 months inside 1ppt of a ‘Sell’ sign, it ended the 12 months only one.5ppt from…
2023-01-04 09:51:13 Bank of America Sees at Least 60% Gains in These 2 Stocks — Here’s Why They Could Soar
Article from finance.yahoo.com