Barclays expects US equities to fall in H2 of 2023, forecasts S&P500 at 4150 by year-end | Forexlive

Barclays does not expect the tech-centric rally seen so far this year to spread more broadly to the rest of the index.

forecasts S&P 500 at 4150 by year-end (previously had estimated 3725)
expects equities to remain range bound
sees full-year S&P 500 earnings per share at $218, from $200 prior
“Surprisingly resilient goods consumption through 1H23 was one of the main reasons why our prior EPS estimate was low in hindsight”
“While the economy has enjoyed a handful of backstops to date, we believe the outlook is still murky, considering the forward path of inflation remains unclear, which means rates are likely to remain higher for longer”

A bit further out: