Citi sees S&P index target price at 7,007 points

According to Jinse, the securities company under Fuguo Bank believes that favorable macroeconomics and loose monetary policy will drive the outstanding performance of the US stock market in 2023 and 2024. Christopher Harvey, the head of the company’s stock strategy, wrote in a research report to clients on December 3 that the S&P 500 index will reach 7,007 points by the end of next December. Based on the Wednesday’s closing price of 6,086 points, the increase will reach 15%. This benchmark stock index, which rose 24% in 2023, pumped 28% this year, recording an annual return rate of more than 20% for the fourth consecutive year in a century.