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Photo = Yonhap news |
[Alpha Biz= Paul Lee] As the New York stock market continues its upward trajectory, global investment bank JPMorgan has issued a short-term bullish outlook, suggesting that the S&P 500 index could climb to 6,144 points.
According to industry sources on May 20, JPMorgan stated in a recent report that markets are currently in a phase where "good news is rewarded, and bad news is ignored." While a short-term correction remains possible, the firm believes the broader uptrend is unlikely to reverse.
Key catalysts highlighted by JPMorgan include:
Nvidia's earnings report scheduled for May 28
Progress in trade negotiations between the U.S., China, the EU, and Canada
Seasonal strength in June and July
Resilient employment and consumer data
A strong M&A market
Potential short-term risks include weak Nvidia earnings, stalled trade talks, and profit-taking pressures.
JPMorgan emphasized the potential rebound of mega-cap tech stocks — the so-called "Magnificent 7 (M7)" — and cyclical stocks. As of May 15, the S&P 500 had gained 0.6% year-to-date, while the M7 group had posted a -4.7% return, suggesting room for further upside.
Specific positive catalysts cited include:
For Nvidia: momentum from AI computing expansion and geopolitical tailwinds from U.S. engagement in the Middle East
For Tesla: the launch of its robotaxi service in June, introduction of affordable EVs, and a perceived reduction in CEO Elon Musk’s political distractions
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
