S&P 500 Record High ‘Feels Inevitable,’ JPMorgan’s Trading Desk Says

While US stocks may pull back in coming weeks amid concern over Federal Reserve policy, the S&P 500 will reassert itself around September before climbing to an all-time high, according to JPMorgan Chase & Co.’s trading desk.

“Better econ growth with better earnings and visibility to the end of a hiking cycle should be supportive of stocks,” the team including Andrew Tyler wrote in a note Monday. “Taking out the ATH high feels inevitable, just a matter of timing.”