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FreshForex shares the prospects of investment in S&P 500

FreshForex shares the prospects of investment in S&P 500

Since the beginning of the year, the S&P 500 index, which includes shares of the 500 largest public companies in the USA, has been attracting investors' attention with its impressive growth dynamics.

Since the beginning of this year alone, it has risen by more than 9%, surpassing the 5,100-point mark, and is set to rise by 23% by 2023.

Such high performance makes it an attractive investment for many investors.

At the same time, FreshForex analysts pointed out factors that may affect its further growth:

- Steady economic growth in the US and strong corporate earnings.

- The "Magnificent Seven" stocks (Apple, Amazon, Google, Meta, Microsoft, Nvidia, and Tesla), which have a strong influence on the S&P 500, are rising due to the introduction of artificial intelligence.

- The willingness of the Federal Reserve to cut interest rates three times in 2024.

- Analyst forecasts. HSBC and BofA Global Research believe the index will reach 5400 by the end of 2024, while Oppenheimer Asset Management strategist John Stoltzfus estimates the S&P 500 will rise to 5500. Wells Fargo analysts also expect the SP500 index to reach 5535 by the end of this year.

FreshForex analysts emphasize that investors around the world seem to be ignoring the possibility that stock valuations have become too high amid the general market rally, which provides even more opportunities for the index to grow.

The broker draws the attention of its investors to the fact that the Magnificent Seven stocks are available in its trading platform.

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