S&P 500 is more overvalued than US credit or gold - survey
is more overvalued than US credit or gold, according to the latest survey conducted among Bloomberg News readers. As much as 52% of respondents said they believe the S&P 500 is overpriced compared to these two assets.
31% said the key factor behind the expected correction is negative surprise on the AI front, followed by an increase in unemployment and pickup in inflation , which would force the Federal Reserve to keep rates higher for longer. Citi's strategy team, recognizing the influence of mega-cap growth stocks and various market risks, has also set a full-year earnings estimate at $250 and initiated a $270 estimate for 2025.
Evercore ISI analysts have raised their year-end S&P 500 target to a Street-high 6,000, citing the transformative potential of AI technology. The firm's outlook is based on an economic environment characterized by slowing inflation, the possibility of Federal Reserve rate cuts, and steady growth.
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