VOO - S&P 500: After A Short And Shallow Dip What Now?
2024-05-08 14:32:25 ET
Summary
- The shallow 6% dip on the S&P 500 must have been rather disappointing for both the bears and the bulls.
- From our perspective, we continue to see an improving U.S. macroeconomic outlook that will be constructive for equities.
- We still see ample room for alpha by rotating away from expensive tech names and into other equity themes that are still providing attractive opportunities for outsized gains.
- Should the Fed fail to commit to rate cuts by its September meeting, we would consider whether a rating downgrade for the SPX is appropriate.
- For now, we are maintaining our 5,200 year-end target for the S&P 500 Index.
The recent pullback in the S&P 500 Index ( SPX ) must have been rather disappointing for everyone, both the bears and the bulls....
S&P 500: After A Short And Shallow Dip, What Now?