Entering 2017, we expected a stockmarket 'melt-up' to the 2,550-2,600 level on the S&P 500 - a move we thought might run into trouble by late summer.
(Veteran market watchers should have recognised our rookie mistake of assigning dates and numbers to this forecast.) The S&P 500 has now reached that target zone. Now what? In this cycle, the Federal Reserve has been notorious for moving the goalposts on the economic conditions required for rate hikes. That, in turn, requires us to move our goalposts by 100 S&P 500 points to a likely year-end zone of 2,650-2,700. BNY Mellon IM brings US large cap fund to UK market If the S&P 500 notches a close above 2,717, this bull market will become the greatest (post-war) cyclical bull of all t...
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