Forex News May 19, 2022

 

HSBC 

HSBC lowered its S&P 500 year-end target to 4,450 from 4,900 previously. Another of the subsequent calls/revisions to the equity outlook Their previous request for 4,900 people was made on January 10, so it predates the Russia-Ukraine conflict and China lockdowns. 

There is no doubt that the inflation outlook and the squeeze on businesses (and thus earnings) and consumers are now part of the picture. 

In case you missed it, Deutsche Bank predicted earlier today that the S&P 500 would fall to 3,650 before recovering to around 4,700 to 4,800 by year’s end.

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