JPMorgan Predicts 17% Surge for U.S. Stocks by End of Next Year
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Next year will be better for stock investors, according to JPMorgan Chase & Co., which is joining other Wall Street bulls in forecasting big gains for 2019.
The S&P 500 Index will rise about 17 percent from current levels to 3,100 by the end of next year, driven by profit growth and investors’ willingness to accept higher valuations, strategists led by Dubravko Lakos-Bujas and Marko Kolanovic wrote in a note to clients Friday. The prediction is slightly higher than the average estimate of 3,056 from 14 other strategists surveyed by Bloomberg.