Goldman Sachs highlighted Wednesday that it is almost “impossible” for analysts to determine a high for the S&P 500 (SP500), as analysts at major financial institutions appear to change their year-end targets in what appears to be a day to day.
“US stocks have entered a period of euphoria that has proven impossible to call a high, and analysts are upgrading their year-end price targets day by day, given the market's Goldilocks/soft landing narrative,” Goldman Sachs said.
See below a handful of financial institutions that have recently raised their year-end price targets for the S&P 500 (SP500).
- Sanctuary Wealth: From 5,400 to 5,800.
- Barclays: From 4,800 to 5,300.
- USB: From 5,100 to 5,200.
Other S&P 500 targets announced are Piper Sandler's 5,050 and Citi's 5,100.
Investors who follow the S&P 500 can turn to exchange-traded funds as an investment vehicle to track the index. Some of the world's largest S&P 500-focused ETFs are listed along with some leveraged ETFs that also track the index. See how each fund has performed so far in 2024:
- SPDR S&P 500 ETF Trust (NYSEARCA:SPY) +6.4% THE LAST YEAR.
- iShares Core S&P 500 ETF (NYSERCA:IVV) +6.4% THE LAST YEAR.
- Vanguard S&P 500 ETF (NYSERCA:FLIGHT) +6.4% THE LAST YEAR.
- ProShares Ultra S&P500 ETF (SSO) +11.7% THE LAST YEAR.
- ProShares UltraPro S&P500 ETF (UPRO) +17.3% THE LAST YEAR.
- ProShares Short S&P500 ETF (SH) -4.8% THE LAST YEAR.
- ProShares UltraShort S&P500 ETF (SDS) -10.3% THE LAST YEAR.
- ProShares UltraPro Short S&P500 ETF (SPXU) -15.5% THE LAST YEAR.
