Tuesday, 2 January 2018

After "absurdly good" 2017, stock market could see more gains in 2018

BBC summarised the performance of stocks in 2017:

In the US, the S&P 500 topped 2,670, rising more than 400 points or about 19% over the year.

Japan's Nikkei also gained nearly 20%. Even the UK's FTSE indexes hit record highs, ending the year more than 7% ahead.

As Morgan Stanley analysts put it, for shareholders at least, the year has been "absurdly good".

The important question, of course, is whether 2018 will see a continuation of gains. Wall Street apparently thinks so.

Morgan Stanley predicts the S&P 500 will reach 2,750 in 2018. Bank of America Merrill Lynch expects it could hit 2,800, while Goldman Sachs forecasts a rise to 2,850 as corporate profits climb.

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