CNBC Pro Poll: Strategists See S&P 500 Price Drop before Year-end


From July 3 to July 7, 15 reputable strategists were interviewed (among them - Bank of America Chief Equity Strategist Savita Subramanian, Charles Schwab Chief Investment Strategist Liz Ann).

9 respondents suggested that the price of the S&P 500 in the 2nd half of the year will fall below current levels. Most of the rest suggested that it would rise, but only slightly. The median opinion is that the S&P 500 forecast for the end of 2023 is 4,255 points (below the current level of 4,444 points).

The reason for pessimism is the lack of growth drivers, which were the boom associated with AI in the first half of the year; against its background, the S&P rose by 15.9%. According to UBS Global Wealth Management investment director Mark Hefele, the main risk for the stock market is that the US Federal Reserve will continue to raise rates, consumer spending will begin to decline, and the US economy will face a recession — eventually this will lead to a hard landing.

Since Monday, the price of S&P 500 has been showing growth, indicating the optimism of market participants regarding inflation values — the news will be published today, at 15:30 GMT+3.

The chart shows that the price of the S&P 500 is rising within the channel shown in blue. In this case, the median line acts as a support.

However, disappointing inflation data, as well as the first data of the company reporting season for the Q2, may turn the mood to bearish, thereby increasing the likelihood of investment strategists' forecast being realized.

Trade global index CFDs with zero commission and tight spreads. Open your FXOpen account now or learn more about trading index CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Indices

Nvidia's Successes Helps S&P 500 Price Reach Its All-time High S&P 500 Inches Down After Long Rally as FOMC Minutes Approach NASDAQ Price Declining Ahead of NVDA Report News about US Inflation Shake Markets S&P500 has been on a roll, but will it continue?

Latest articles


Bitcoin Price Risks Not Staying above $50k

On February 14, a strong bullish impulse was recorded in the BTC/USD market, which pushed the price of bitcoin to the area above USD 50k. The main driver of growth was the effect of the launch of a bitcoin


Nvidia's Successes Helps S&P 500 Price Reach Its All-time High

Yesterday, the price of the S&P 500 stock index rose to record closing highs on Thursday. Moreover, such a growth rate (+2.11% per day) has not been observed for 13 months. Reasons for Extremely Bullish Sentiment: → Nvidia's

Forex Analysis

Market Analysis: AUD/USD and NZD/USD Grind Higher Steadily

AUD/USD is moving higher and might rally if it clears 0.6600. NZD/USD is also rising and could extend its increase above the 0.6220 resistance zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today· The

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.