With the world grappling with inflation, political tensions stemming from the Russia–Ukraine war, and worries about an impending recession, stock market experts are now split on where Wall Street is heading for the rest of 2022 after declining for the first half of the year.
Citigroup Inc. is in the camp that is expecting a positive rally in U.S. stocks for the remainder of the year. “Risk off-positioning” and “second-half earnings resilience” will support the stock market to move higher, Citi strategists said in a recent note, according to Bloomberg.
Strategists expect the S&P 500 to close at 4,200 for the year, representing an over 8.78 percent increase from the 3,861 level as of 1:38 p.m. Eastern time on July 11. For the full year, Citi is expecting a drop of 12 percent….