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- S&P 500 seen a little higher by end of 2022 – Reuters poll
S&P 500 seen a little higher by end of 2022 – Reuters poll
The S&P 500 will end the year a little above its current level after a recent rally that has lifted the index from its bear market lows, according to a new Reuters poll of strategists published during early Wednesday in Asia.
Key findings
The benchmark will end this year at 4,280, according to the median forecast of nearly 50 strategists polled by Reuters during the last two weeks. That is 3.4% higher than Monday's close of 4,137.99.
That median forecast for 2022 was down from a forecast of 4,400 in a Reuters poll conducted in late May.
Strategists in the latest Reuters poll expected the S&P 500 to continue to rise in 2023, and hit 4,408 by mid-year, according to the poll's median forecast.
Analysts' estimates for full-year profit growth have come down slightly since the start of July, but they still forecast growth of 8% for 2022, the data showed.
Investors have worried whether profits can grow fast enough to support stock valuations, especially with the recent rally.
The S&P 500's forward 12-month price-to-earnings ratio is now at about 18 compared with 22 at the end of December and its long-term average of about 16, according to Refinitiv data.
Also read: EUR/USD Forecast: A small respite for the shared currency
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