Since the beginning of the year, the stock market has been experiencing high volatility on concerns about rising inflation, geopolitical tensions between the U.S. and Russia over Ukraine, and the Fed’s signal that it will raise interest rates multiple times this year.
According to BofA Securities’ U.S. head of equity and quantitative research, Savita Subramanian, “It’s going to be a year where we are shocked by the volatility.” Her price target for the S&P 500 is 4,600. “Between today and year-end, we’re going to hit that target multiple times, and we’re going to see some big swings from the market,” she predicted.
