S&P 500 Index: 2023 year-end range is wide at 3,800-4,500 – BNY Mellon SP500 Banks Equities InterestRate Inflation
2022 was a volatile year for equities. Ecnomists at BNY Mellon expect S&P 500 Index to remain under pressure before starting to move higher.to bottom until the market prices in a recession and Wall Street’s consensus 2023 earnings per share estimate falls further. At $232, the consensus EPS estimate is considerably higher than our $205-$215 estimate, which reflects the weakening economy.”
“Although it is unlikely the market will have a V-shaped recovery given the prospect of higher rates and inflation continuing in the coming years, we do expect returns to be positive in 2023.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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