23 hrs ago
U.S. Markets Slip as Higher Yields Weigh on Outlook
U.S. markets started the week by falling.
Higher yields helped push markets lower.
Yields are returns investors can earn from some financial assets.
When yields rise, stocks can become less attractive to some investors.
Savita Subramanian of Bank of America is one of the analysts who remains cautious about the market.
She raised her S&P 500 forecast from 7,100 to 7,400.
Even so, that forecast still suggests the index could fall 2.9% from its current level.
She expects it could reach 7,800 within the next year, which would be a 2.4% gain from current levels.
U.S. markets started the new week lower as higher yields pressured sentiment.
Bank of America analyst Savita Subramanian raised her S&P 500 projection to 7,400 from 7,100.
Despite the increase, the revised projection still implies 2.9% downside from current levels.
Subramanian expects the S&P 500 to retest 7,800 over the next 12 months.
That 12-month target represents approximately 2.4% upside from current levels.
- Who
- U.S. markets, Bank of America analyst Savita Subramanian, and the S&P 500 are central to the report.
- What
- U.S. markets began the week lower as higher yields weighed on sentiment, while Subramanian revised her S&P 500 projections.
- Where
- The United States.
- When
- At the beginning of the new week; Subramanian's higher target covers the next 12 months.
- Why
- Higher yields pressured markets, while Subramanian's projections reflected a cautious outlook despite being raised.
Key facts
- Market direction
- U.S. markets began the week lower.
- Main pressure
- Higher yields.
- Analyst
- Savita Subramanian of Bank of America.
- Previous S&P 500 projection
- 7,100.
- Revised S&P 500 projection
- 7,400.
- Implied downside
- 2.9% from current levels.
- 12-month retest level
- 7,800, implying 2.4% upside from current levels.
Sources
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