ICYMI – Citi sees S&P 500 above 5,000 by year-end 2022

Full info can be found here at Reuters, but in summary;

  • Citigroup analysts raised their price target for the S&P 500 to 5,100 from 4,900 set in October, cautioning that a U.S. Federal Reserve policy tightening could pose valuation headwinds.
  • expects strong corporate earnings to continue this year
  • Upcoming quarterly results and 2022 outlook of companies could provide the cushion for growth, despite COVID-19 and supply chain woes,

On Wednesday (US time) the FOMC minutes release saw stocks lower:

  • S&P 500 down 92 points to 4700
  • Nasdaq down 3.2%

BTD folks will be happy.

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