CNBC Pro Poll: Strategists See S&P 500 Price Drop before Year-end
FXOpen
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 (additional fees may apply). 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.
Stay ahead of the market!
Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.
Latest articles
Oil Markets: Why Could the Risk Premium Fade
Oil markets have recently reacted to geopolitical developments — but the more important signal may lie in how price action is evolving afterwards.
In this video, we look at why the risk premium in oil could begin to fade, despite ongoing
USD/JPY Builds Positioning Ahead of Signals from the Bank of Japan
USD/JPY dynamics continue to be driven by the persistent yield gap between US and Japanese government bonds. With the Federal Reserve maintaining a relatively hawkish stance and keeping rates elevated as of April 2026, the Bank of Japan remains
Australian Dollar Pulls Back from Highs on Weaker Data
The Australian dollar is undergoing a corrective decline after reaching recent highs, with the current move driven by market reaction to newly released macroeconomic data. Earlier gains in AUD were supported by improving global risk sentiment and steady demand for