S&P 500’s Potential Rise: 5,300 Target after Latest Milestone

Stock values expected to rise, says UBS

UBS global wealth management chief Mark Haefele predicts a rise in stock values, stating that they are “well supported” despite the S & P 500 more than doubling since its pandemic low in March 2020. Haefele expects the S & P 500 to reach around 5,300 this year, implying a 5.6% increase from current levels. The index traded above the 5,000 level on Friday, after breaching the mark just before Thursday’s close. This positive trend is attributed to better-than-expected corporate earnings and economic data, as inflation continues to decline.