Why JPMorgan's trading desk says a new record high in the S&P 500 'feels inevitable'
reason to believe a new record high might just be all but guaranteed at this pointAnalysts from the bank's trading desk led by Andrew Tyler, head of US market intelligence, wrote in a Tuesday note to clients that stocks look poised to keep climbing, largely thanks to upbeat news on growth and inflation.
While there's been some recent capitulation in equities as some investors fear the possibility of the Federal Reserve breaking something in the economy, ultimately there's reason for bullishness, the analysts said. Inflation eased in July to 3% annually, and while that's still higher than the central bank's 2% goal, it's fallen far from last year's 9.1% peak, sending investors rushing to the stock market.
While August and September are typically weaker-performing months, any near-term pullback should be capped off with stocks marching higher afterwards, according to the analysts.
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