S&P 500 Index: Year-end 2023 target of 4500 – Deutsche Bank

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Economists at Deutsche Bank expect the S&P 500 Index to fall towards 3250 in the third quarter. However, the index is expected to move back higher to end the year at 4500.

Current bear market rally to continue through Q1 into Q2

“In the short term, we see the current bear market rally continuing through Q1 into Q2.”

“After a flat performance in Q2 as recession concerns build, equities will then fall significantly in Q3 as the recession begins, with the S&P 500 falling to 3250.”

“We expect the S&P to bottom half-way through the recession and recover the decline during Q4, reaching 4500 by 2023 year-end.”