BNP has flipped its S&P 500 forecast to end 2023 at 4150, from 3400 previously

<p>Bloomberg with the info from an interview with BNP's head of US equity and derivative strategy.</p><p>He was previously forecasting a big drop by year-end to 3400 for the benchmark US index. Is now targeting 4150. The new projection is because analysts at the bank now think the US will avoid recession:</p><ul><li>“Our outlook for this year was always predicated on the idea of seeing a recession in the US” </li><li>“I think us, along with many people on the Street, have been surprised at the resilience of the data in the US”</li></ul><p>
Now expects stocks will sink slowly as growth cools and analysts lower forecasts for corporate earnings:</p><p>Bloomberg is gated.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.