S&P 500 is poised to rocket 100% in 5 years – analyst
We are in the early innings of a bull market where the earnings recovery story has barely begun,” Bradesco BBI’s head of equity strategy Ben Laidler told Yahoo Finance Executive Editor Brian Sozzi on his Opening Bid podcast.
Grace Williams for Yahoo Finance:
Laidler, whose resume includes stints at HSBC and JP Morgan, thinks there’s a likelihood of two interest rate cuts this year from the Fed — which should fuel further investor excitement beyond expected strong earnings growth.
Those factors could help lift stocks at least 100% over five years, contends Laidler.
“Earnings might easily compound at 15% a year if the economy keeps chugging along and you get a little bit of multiple expansion, which I think lower interest rates would justify,” he said.
The gains have been powered by enthusiasm around AI, powering names such as Nvidia (NVDA) and Apple (AAPL) to record highs.
This year the momentum has carried the Dow Jones Industrial average beyond 40,000, and the S&P 500 beyond 5,000.
“We are in a very fundamentally supported market. Earnings are recovering, and rate cuts are coming,” added Laidler.
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MacDailyNews Take: From Ben’s lips to Mr. Market’s ears (especially regarding Apple).
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