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📈JPMorgan Predicts 10% S&P500 Rally by 2021
What you need to know before the US markets open 🇺🇸
Hey Global Investor, here's what you need to know before the US markets open.
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Market Snapshot 📈
S&P 500 (Tuesday Close) 3,335.47 −16.13 (0.48%)
NASDAQ (Tuesday Close) 11,085.25 −32.28 (0.29%)
FTSE 100 (5 PM IST) 5883.99 -13.51 (-0.22%)
NIFTY 50 (Today's Close) 11,247.55 +25.15 (0.22%)
USDINR (5 PM IST) 73.74 (1 Year +4.41%)
JPMorgan Predicts 10% Growth for S&P500 in Next 12 Months.
JPMorgan Private Bank expects S&P500 to climb to 3,750 points by September next year, a 10% increase from its previous close.
What Might Happen? JPMorgan Private Bank anticipates the S&P500 closing out the year at 3,600 and going up to 3,750 points in the following nine months. Given the index hovered around 3,335 after yesterday’s close, that’s a 10% upside.
With the market’s trending downward this month, this optimism might seem misplaced. Just a week back, the S&P 500 closed at 3,236.92 – its lowest since late July. Nasdaq slid 3% to close at a two-month low. The Dow dropped 1.9% even after component stock Nike set record highs on account of a great quarter.
JPMorgan believes the US presidential elections will have minimal impact on share prices. It is bullish on corporate earnings in the post-pandemic recovery phase.
JPMorgan recommends sectors witnessing “structural growth” such as digital transformation, environment-related trends, or healthcare and technology innovation to be a part of investment portfolios in general.
For investors, analyst ratings are an important consideration before making an investment decision. Earlier this month, Winvesta introduced Analyst Rating for some of the stocks available on our platform to assist our clients in their decision-making process.
'Sue't Up: U.S. expected to sue Google next week as DOJ seeks support from states (GOOG +0.33%)
Expectations: Palantir value pegged at $15.8 billion ahead of long-awaited NYSE debut
On-going Talks: GM 'continuing discussions' with Nikola on alliance deal (GM -2.38%, NKLA -7.36%)
Later Today 🕒
5.45 PM IST: ADP employment report
6.00 PM IST: GDP revision (SAAR)
7.30 PM IST: Pending home sales index
Fun Fact of The Day 🌞
Recycling one glass jar saves enough energy to watch television for 3 hours.
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