S&P 500 Rise Forecast: What’s Driving the Rise

10-12-2020

Not so long ago, Pfizer announced the high effectiveness of its covid vaccine (the rate reaches 95%). After such news, Goldman Sachs bank raised its forecast on the level of the S&P 500 index by 3.7 points. It was also boosted by the U.S. election results.

“Everyone understands that we need to pay attention to the possible political and economic consequences of a Biden victory, but an effective coronavirus vaccine is now a bigger factor in determining the trend in the economy,” said experts at the U.S. investment bank.

The index is projected to reach 4.3 points. This is 21% higher than its closing level in recent trading. As a result, exchange players now is the right time to step up. 

The European market will revive next year. The reason will be the minimization of quarantine measures and active vaccination of EU residents. According to forecasts STOXX 600 will rise by 11% or 430 points compared to the current level.

JPMorgan Bank also shared its forecast. According to experts, the S & P 500 will grow to 4,000 points by the end of this year.

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