JPMorgan Chase: Inflation Alone Insufficient to End Long-Term Upward Momentum of US Stocks, S&P 500 Index to Rise Approximately 10% in the Next 12 Months

TechFlow news, August 03, a top strategist at JPMorgan stated that although the U.S. is experiencing an "inflation rollercoaster," this will not prevent the stock market from soaring to record highs, and the S&P 500 index will still rise by approximately 10% in the next 12 months.

Kriti Gupta, Executive Director and Global Investment Strategist at JPMorgan Private Bank, expects that by the middle of next year, the benchmark index will reach around 8,200 points. JPMorgan believes that inflation alone is insufficient to end the long-term upward momentum of the stock market.

Gupta stated that the main foundations supporting the bull market remain solid: one important reason is strong economic growth. The U.S. economy continues to expand, bringing confidence to businesses and investors even though inflation remains concerning; another main reason is the huge market demand for artificial intelligence. Gupta expects the U.S. stock market to continue maintaining double-digit returns this year.