S&P 500 could hit 5,500 this year - UBS
Analysts expect 7-9% growth for S&P 500 companies in the first quarter and highlight that this growth is starting to broaden out behind the Magnificent 7 stocks. Non-Mag 7 stocks are expected to post positive growth for the first time since the fourth quarter of 2022. Further, analysts see this trend accelerating through the balance of the year.
While they warn that stocks could take a breather, given the substantial gains over the last six months, the firm maintains optimism due to solid earnings growth, anticipated Fed rate cuts, and increased investment in AI.
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