Reuters poll - Dow seen at 27,200 and S&P 500 seen at 2,900 by end-2018
According to a Reuters’ poll of Wall Street market strategists, US stocks will build on the recent recovery from a selloff earlier this month and extend a bull run that began in 2009 to rack up an over-8-percent gain for the year.
Key points:
• The S&P 500 Index is likely to end this year at 2,900, about 8.5 percent above 2017’s finish
• The poll also showed the Dow Jones Industrial Average ending 2018 at 27,200 and is forecast to end 2019 at 27,650.
• Strong corporate profit growth and a robust economic expansion will support further gains in stocks
• Fears of inflation rising sharply enough to prompt the Federal Reserve to speed up interest rate hikes will still plague the market, along with increased volatility
• The recent deep market losses helped to drive down the benchmark index’s price-to-earnings multiple and ease worries about lofty valuations