Goldman Sachs outlined on Wednesday that it is nearly “impossible” for analysts to call a top for the S&P 500 (SP500) as analysts at major financial institutions seem to change their year-end targets on what seems to be a day-to-day basis.
“US equities have entered a period of euphoria, which has proved impossible to call the top and analysts are upgrading their year-end price targets by the day given the Goldilocks and soft landing narrative from the market,” Goldman Sachs stated.
See below a handful of financial institutions that have pushed up their year-end price target for the S&P 500 (SP500) recently.
- Sanctuary Wealth: From 5,400 to 5,800.
- Barclays: From 4,800 to 5,300.
- UBS: From 5,100 to 5,200.
Other S&P 500 targets that are called are by Piper Sandler for 5,050 and Citi calls for 5,100.
For investors that are tracking the S&P 500 they may look towards exchange traded funds as an investment vehicle to track the index. Listed are some of the world’s largest S&P 500 focused ETFs along with some leveraged ETFs that track the index as well. See how each fund has performed so far in 2024:
- SPDR S&P 500 ETF Trust (NYSEARCA:SPY) +6.4% YTD.
- iShares Core S&P 500 ETF (NYSEARCA:IVV) +6.4% YTD.
- Vanguard S&P 500 ETF (NYSEARCA:VOO) +6.4% YTD.
- ProShares Ultra S&P500 ETF (SSO) +11.7% YTD.
- ProShares UltraPro S&P500 ETF (UPRO) +17.3% YTD.
- ProShares Short S&P500 ETF (SH) -4.8% YTD.
- ProShares UltraShort S&P500 ETF (SDS) -10.3% YTD.
- ProShares UltraPro Short S&P500 ETF (SPXU) -15.5% YTD.
