UBS stick to their end of year S&P 500 forecast of 5,900; "fundamentals remain positive"UBS says to shake off short term volatility and not miss out on rebounds:
- Market sentiment and positioning had become extended -- making a pullback more likely.
- But market fundamentals remain positive, and we continue to expect the S&P 500 to recover and end the year higher at 5,900
UBS still like prospects for long-term growth opportunities in artificial intelligence trend. Expect lower interest rates ahead, so lock in yield on high-grade government and corporate bonds.
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Thursday was an ugly one:
Trust your systems?
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: UBS stick to their end of year S&P 500 forecast of 5,900; "fundamentals remain positive" (https://www.forexlive.com/news/ubs-stick-to-their-end-of-year-sp-500-forecast-of-5900-fundamentals-remain-positive-20240801/)
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