Preview July S&P 500 Forecast

We ran the numbers based on the index’s closing price of 4,348 on Friday, June 23, to project its future performance. Our model has not changed its prior prediction of a flat to slightly upward-moving S&P 500.

Model predicts flat to slightly upward-moving S&P 500 future performance based on 4,348 closing price.

Inflation and interest rates remain key market catalysts, with the consumer price index increasing 4.9% in April. Fed Chair Jerome Powell emphasized that inflation remains high, and the central bank will remain “steadfast” in pursuing price stability. The Federal Open Market Committee raised interest rates by a quarter of a percentage point in May, with no hikes in June, and Powell indicated more rate hikes are necessary if inflation data is hotter than expected.

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