Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

John Stoltzfus Still Expects S&P 500 to Rally a Whopping 40% by Year-End

Published 06/21/2022, 12:51 PM
Updated 06/21/2022, 05:01 PM
© Reuters. John Stoltzfus Still Expects S&P 500 to Rally a Whopping 40% by Year-End

By Davit Kirakosyan

According to a report from Bloomberg News, John Stoltzfus, the Oppenheimer & Co. chief investment strategist, still expects the S&P 500 to end the year at 5,330, which represents a whopping 40% from where it currently stands.

Stoltzfus doesn’t believe there’s going to be a recession, noting that “we might skirt it.”

While many strategists shifted from their ultra-bullish 2022 price targets for flatter projections, with S&P 500 down 21% YTD, Stoltzfus believes Fed is able to “check the pace of inflation,” and supply chains will loosen up.

He mentioned that S&P 500 dropped 25% from Dec. 31, 2008, through March 2009 on expectations that the Fed would fail in its efforts to get the economy back on track, however, the market rallied 64% from March 9th through the end of the year.

“So if we can get half of that as a rally, we would be close to our 5,330 target,” added Stoltzfus.

Latest comments

Not saying inflation is to be ignored but is trivial and is being managed...people line to maje a storm inside a cup.
The media drives the market into panic selling or panic buying like a herd...this recession thing or idea or invention is made up to dump the price and make the retail investors panic sell to the big guys...you can call a recession for 5 years or 10 years and it will happne eventually of course...but they are calling this on a strong economy...the news and media re the ultimate manipulators, they manupulate your emotions your fears and your greed. So you buy at the top and sell at the bottom. That is the reality.
Just because someone says inflation is going to 1% by end of year doesn't mean it'll become true.
Make it clear. 2008 bailout/ stocks up.Then sideways. Q1/ Stocks up, then sideways. Q2 / stocks up etc. Q3 stocks up. Trump/tax cuts. Stocks up. Pandemic Stimulus/stock up. No more stimulus, QT, raising rates, inflation. Sp500 to 3000.This is it. This analyst is a dummy.
Sp 500 to 3000, the chief analyst? He's is not making any sense
Just like Bull markets the Bear markets don't last forever. If a new investor or trader read some good books written about Bear markets. There is one thing all the CNBC gurus are not telling retail investor is that Bear market started in November 2021 and now it's in the last phase of it. But all the top morons aka analysts telling that SPY entering bear market territory now. This is where they are fooling retail investors that buy oil stocks now on all time high. And these big fund managers dumping oil stocks and accumulating big tech stocks...
finally somebody that doesn't fall in the doomsdaytrap.
Whatever he's smoking I need a pound of it...
Always good to have a fool representing your Company and giving advice.
He is trying to prop up  the market so he can get his big bonus.  Wishful thinking this year buddy!
comparing 2008-2009 to the present time is like comparing apples and oranges. Totally different macro situation at play.
Seems like this poor guy forgot to get out on time. Now he wants to fool retailers to buy up, so he can minimize his loses
I believe after I eat I'm going to use the bathroom. So how come he didn't see the downturn just happened? Full of BS. Chief strategist? Now I know who I don't have to listen to. Keep it simple, no stimulus, raising rates, 9% inflation etc.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.