S&P 500 is tipped to gain 7% next year, but will it?
’s vetting of cabinet picks second time round may have thrown up some blunders, with his nominee to lead the Drug Enforcement Administration this week following the fate of Matt Gaetz’s short-lived candidacy for attorney general.
The stock market, as we learned during Trump’s first term in office, is Trump’s favoured barometer of success – having regularly peppered speeches back then with the question, “How’s your 401 doing?” That referred to the stock-laden retirement savings vehicles used by more than 100 million Americans.Volkswagen blues: Carmaker struggles to build a business for an EV future
The S&P 500, which has a major influence on stock markets globally, is on track to reach 6,500 points by the end of next year, according to median forecast of 48 equity strategists recently polled by Reuters. That points to about a 7 per cent advance from current levels.have quit the Irish market in the past 15 months and moved their main listings to the US with an aim of ultimately joining the S&P 500.
Following this year’s rally, companies on the S&P 500 are trading at an average of 23 times expected earnings, according to stock market research firm Birinyi Associates. That’s well over the 10-year average of about 18. Tech valuations are even more stretched. Trump 2.0, with a return of “America first”, has already seen the president-elect suggest universal tariffs on all goods imported to the US and sharply higher levies on Chinese goods. He has also threatened neighbouring Mexico and Canada with 25 per cent taxes on goods from both unless they stem immigration to the US and flows of drugs.
Inflation could also be stoked if mass deportations of illegal immigrants kick in – or people start self-deporting in droves – under Trump. Fewer workers in some industries could put upward pressure on wages.
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