The S&P 500 has potential to rally to 5,600 - BofA

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The S&P 500 (SP500) has a big base potential to reach 5,600, according to Stephen Suttmeier, Bank of America chief equity technical strategist. In a CNBC interview, Suttmeiner said that he sees ...

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In a CNBC interview, Suttmeiner said that he sees ...</p>\n\n<a href=\"https://seekingalpha.com/news/4074075-the-sp-500-has-potential-to-rally-to-5600-bofa\">Source Link</a>\n\n</div>\n","source":"seekingalpha_hot_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The S&P 500 has potential to rally to 5,600 - BofA</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe S&P 500 has potential to rally to 5,600 - BofA\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-01 02:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4074075-the-sp-500-has-potential-to-rally-to-5600-bofa><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 (SP500) has a big base potential to reach 5,600, according to Stephen Suttmeier, Bank of America chief equity technical strategist. In a CNBC interview, Suttmeiner said that he sees ...</p>\n\n<a href=\"https://seekingalpha.com/news/4074075-the-sp-500-has-potential-to-rally-to-5600-bofa\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XLF","symbol_name":"金融ETF","start_time":0,"source_url":"https://seekingalpha.com/news/4074075-the-sp-500-has-potential-to-rally-to-5600-bofa","article_id":"2416503258","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1478940432/image_1478940432.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2416503258","pubTimestamp":1709232349,"sourceInfo":{"source_id":"seekingalpha_hot_news","name":"SeekingAlpha"},"weMediaInfo":null,"summary":"The S&P 500 (SP500) has a big base potential to reach 5,600, according to Stephen Suttmeier, Bank of America chief equity technical strategist. 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In a CNBC interview, Suttmeiner said that he sees potential for the S&P 500 (SP500) to 5,600, along with the gaining of other major indices, as global markets rally and credit spreads narrow. The S&P 500 (SP500) has formed a “cup and handle” formation between 2022 and 2023. The pattern shows a deep correction from January 2022, a rally from October 2022, a small pull back to about 4,100, and another rally up to above 5,000. The index is up 28% from a year ago and 6.60% year-to-date. “There is a difference between overbought and a good overbought,” he said. “Right now, we got persistent overbought on some of the momentum indicator, which typically occur in bull markets.” The market might experience a tactical pullback, “maybe towards 4,800-4,600.” In addition, 2024 is an election year and some volatility is expected during the first five months before “a nice summer rally,” he said.  The Nasdaq 100 (NDX), financials (VFH), (XLF), industrials (XLI), the Stoxx 50 (FEZ), German equities (EWG), and the Nikkei 225 (NTETF) are some examples of global indices seen breakouts.  The Nasdaq 100 (NDX) is up 6.98% year-to-date. The Vanguard Financials Index Fund ETF Shares (VFH) is up 6.08% year-to-date. The Financial Select Sector SPDR® Fund ETF (XLF) is up 7.19% year-to-date. The Industrial Select Sector SPDR® Fund ETF (XLI) is up 6.03% year-to-date. The SPDR® EURO STOXX 50 ETF (FEZ) is up 5.75% year-to-date. The iShares MSCI Germany ETF (EWG) is up 3% year-to-date. The Nikkei 225 Exchange Traded Fund (NTETF) is up 3.68% year-to-date.   More on S&P 500 Index:  PCE January 2024: Spending And Inflation Still Too Strong For Fed How The S&P 500 Could Actually Be Closer To 4,200 Than 5,000 Yen Pops On BOJ Inflation Comments, Dollar Holds Most Of Yesterday's Gains Vs. G10 Peers Nasdaq, S&P, Dow mixed as fight against inflation shows slow but steady progress Dow, S&P, and Nasdaq are mixed with the Fed's preferred inflation gauge coming in","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2416503258"}