According to UBS, the S&P 500 could surge to 5,500 by 2024, driven by cooling inflation and a boom in artificial intelligence (AI) investment. The forecast comes as the stock market has rallied this year, with the S&P 500 up over 15% year-to-date. UBS expects the Producer Price Index (PPI) to continue declining, signaling easing inflationary pressures. Additionally, the firm anticipates a surge in AI investment, which could boost productivity and corporate earnings. UBS cites the rapid adoption of AI tools like ChatGPT as a catalyst for this investment boom. The forecast highlights the potential for further stock market gains, fueled by moderating inflation and the transformative impact of AI on various industries.
Stock Rally Could Push S&P 500 to 5,500 by 2024, UBS Forecasts Amid Cooling Inflation and AI Investment Boom
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