JPMorgan predicts S&P 500 all-time high

A group of analysts at investment bank JPMorgan is confident that further growth to new record levels of the S&P 500 index is inevitable, writes Business Insider.

With investors hesitant to put all their money aside for now, a technical correction in the market is unlikely, and strong economic growth, despite all recession predictions, and improved earnings should push the index to a record high.

The S&P 500 has started well in the first half of 2023, and there is reason to believe that its rally will continue further, mainly due to upbeat news about the growth of the economy and lower inflation.

"As we turn the page to August, we see the market turning bullish before resuming the uptrend," analysts said in a note.

The S&P 500 closed at 4,576.73 on Tuesday, less than 5% off its all-time close of 4,796.56 in January 2022.

The stock market could be spurred further by more data illustrating economic and corporate earnings growth.