Oppenheimer raises S&P 500 index target, expecting a 20% rise in the third year.

Jin10 data reported on July 28th that Oppenheimer Asset Management data shows that progress in trade negotiations will lead to the S&P 500 index rising for the third consecutive year by 20%, an achievement not seen since the late 1990s. Chief Investment Strategist John Stoltzfus raised his year-end target from 5,950 points to 7,100 points. This implies that the stock market will rise by 11% compared to last Friday’s close. He also raised the earnings forecast for S&P 500 constituents in 2025 to $275 per share, which is 3% higher than the average analyst expectation. Meanwhile, Morgan Stanley strategists led by Michael Wilson reiterated that the bullish case for the S&P 500 index is strengthening.