Institutional survey: S&P 500 index will move towards 6,000 points

Odaily News The latest Bloomberg survey shows that this year's crazy rebound in the US stock market is expected to continue into the final stages of 2024, although the US presidential election is about to become a major uncertainty. According to the median estimate of 411 respondents, the S&P 500 index will approach 6,000 points by the end of the year, 2.3% higher than the close of last Friday, setting a new high. Three-quarters of respondents expect this earnings season to boost stock indexes, and the strength of US corporate earnings is seen as more critical to stock market performance than who wins the November election or even the policy direction of the Federal Reserve. Data shows that about 70 companies in the S&P 500 index have announced earnings, of which 76% have announced earnings that exceed expectations. Respondents expect that technology giants that will announce earnings later will take the lead again. A total of 75% expect the "Big Seven" to outperform or match the rest of the market this quarter. (Jinshi)