Economist Predicts Double-Digit Percentage Increase for S&P 500 Index
Economist and macro strategist Henrik Zeberg has made a bold forecast, predicting that the S&P 500 index could experience a significant increase by double-digit percentage points in the coming months.
Explosive Rally in the Markets
During an interview on the WTFinance podcast, Zeberg shared his insights, suggesting that the markets are poised for an explosive rally in the short term.
“I think the blow-off top is still going and you see it in various markets around the world… actually [markets] have seen new all-time highs after everybody kind of dismissed that in April, we could see that. Now we are seeing it.”
Zeberg believes that the S&P 500 index could potentially surge by approximately 13% from its current level, indicating a bullish outlook for the near future.
“I still think that things will be moving on like what I’ve been expecting in terms of a 6,800 top in the S&P [500] as a minimum.”
As of the latest market close, the S&P 500 is trading at 6,025 points, setting the stage for potential growth as per Zeberg’s forecast.
Caution Amid Optimism
While Zeberg anticipates rallies in the stock market, he also warns of a looming recession on the horizon as the economy displays signs of gradual deterioration.
“We’re getting closer and closer [to a recession]. There are more and more signs now that the deterioration is going through. It’s really in the housing market that is the worst in the US. And we’re starting to see some signs as well in the real economy and in the labor market as well.
So I think we will see that things slowly, as always, start to roll over.”
Despite the optimistic outlook for market growth, Zeberg’s cautionary stance underscores the fragility of the current economic landscape.
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