FactSet Research Systems IncFDS
Mentioned
The S&P 500 surged more than 19% over the two-month period ending May 29, a feat achieved only seven other times in history. According to Carson Group, following such rallies the index has returned an average of 28% over the next year, with past instances ranging from 8% to 46%. The index closed at 7,580 on May 29, implying a potential rise to 9,700 by the same date next year if the historical average holds. First-quarter earnings for S&P 500 companies grew 28.8%, the fastest since 2021, and Wall Street expects full-year earnings to increase 23%. However, risks remain as CPI inflation hit 4.2% in May, the highest since 2023, which could prompt the Federal Reserve to raise interest rates.
FactSet Research Systems Inc