Monday, December 31, 2012 4:37 pm
Predictions from market experts for 2013
By The Associated Press
CITIGROUP:
Year-end target for the S&P 500 index: 1,615.
Reasoning: Modest improvement in the economy and better company earnings. Enticed by higher returns, investors move some cash from bonds back into to stocks.
BANK OF AMERICA MERRILL LYNCH:
Year-end target for the S&P 500 index: 1,600.
Reasoning: Eventual fix to the "fiscal cliff," improving outlook for global growth.
GOLDMAN SACHS:
Year-end target for the S&P 500 index: 1,575.
Reasoning: The "turbulent political environment" that held back investment 2012 will end. Company revenues will edge higher and earnings will rise.
BARCLAYS CAPITAL:
Year-end target for the S&P 500 index: 1,525.
Reasoning: Capital spending will stabilize and the U.S. will benefit from improved manufacturing competitiveness and an energy boom.
WELLS FARGO SECURITIES:
Year-end target for the S&P 500 index: 1,390.
Reasoning: The U.S. economy flirts with recession, exports decline and investment falls.