S&P 500 outlook for 2022: Liz Young sees upside to 5,150

Best Incense Sticks Collections

The benchmark S&P 500 index will continue its move up even if the U.S. Federal Reserve hikes rates as much as three times next year, says SoFi Technologies’ Liz Young.

Young has a target of 5,150 on SPX for the end of 2022 that translates to an about 9.5% upside from here.

Young defends her bullish thesis on CNBC’s ‘Halftime Report’

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

According to Young, the initial recovery from the pandemic was based on concentrated strength in the market. But now, several sectors have started contributing to support a further move up. Defending her bullish thesis on CNBC’s “Halftime Report”, she said:

When you have concentrated parts of the market, like the FAANG stocks being the only leaders, you get worried what would happen if those fall apart. But now, there’s a lot of stuff that would have to fall apart to send us in the other direction.

Young doesn’t expect aggressive rate hikes before late 2022, securing more room for the SPX to run.

Jon Najarian agrees

During the same interview, Jon Najarian agreed that “FAANG stocks don’t have to carry the load” anymore. He said:

The torch is passing from sector to sector. It’s why we’ve seen significant corrections in a given sector only to see another leadership position like energy or financials step in. And several new ones are on fire right now. It’s where the smart money is being put on the table in a big way by big institutions.

The bullish outlook is also in line with Tom Lee’s, who’s convinced that many sectors are set to show strength in the coming months. The benchmark is already trading at its all-time high on Monday.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,



67% of retail CFD accounts lose money

Source link

Daily 2 Daily News