Financial expert predicts record increases in the stock market by the end of 2023

Financial expert predicts record increases in the stock market by the end of 2023

According to a report by www.businessinsider.de,

The stock market could recover and reach new record highs by the end of 2023, experts say. Although September typically sees weak equity returns, one analysis shows that positive returns are more likely with an already recorded increase of 10 to 20 percent over the year. Bank of America technical analyst Stephen Suttmeier predicts that the S&P 500 could be between 4,850 and 4,875 points by the end of 2023, which would represent a new record.

According to an analyst note, the stock market is in a promising middle ground. Stocks typically rise only 44 percent of the time in September, but in years when the market has already gained between 10 and 20 percent, September market returns are positive 65 percent of the time. This indicates a possible recovery. Suttmeier noted that the stock market has historically seen large gains in such a scenario.

The potential impact on the market is positive returns and a possible new record high for the S&P 500 index by the end of 2023. The seasonality data suggests that the August selloff was healthy and should be welcomed by investors. However, Suttmeier also warned that year-end returns could be weaker since the market has already risen sharply.

It should be noted that investing in stocks and other investments involves risk. It is recommended that you seek professional advice before making any investment decisions.