S&P 500 above 4,400 leaves no room for more gains: Citigroup

June 17, 2023

Citigroup strategists predict that the US bull-market rally in stocks is set to end. The bank has maintained its prediction of S&P 500 Index tumbling to 4,000 by year-end, with a new target of 4,400 by mid-2024. Citigroup has highlighted a looming US recession and apparent wariness among investors surrounding the S&P 500’s breakout.

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