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jpmorgan's trading team expects the s&p 500 index to approach 6300 points by the end of the year.
According to traders at jpmorgan, the s&p 500 index still has room to climb further before the end of the year, even after the strongest rally since the early days of the internet bubble burst. The derivatives analyst at the bank stated that the most popular options trading bets that the US stock benchmark will reach 6200 to 6300 points this month. Based on the closing level of around 6032 points last Friday, this means it could rise another 3%-4% by the end of the year. "The positive macro environment, earnings growth, and the continued support of the Federal Reserve are all factors that lead us to maintain a tactical bullish view before the end of the year," said Andrew from global market research.
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