Citi: S&P 500's performance driven by factors other than the broader US economy
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#409962b2 ver:0.63

Analysts at Citi argue that the S&P 500's performance is driven by factors other than the broader US economy, such as changes in composition and technological advancements. They suggest a base case value of 4600, but with structural tailwinds, the index could be fairly valued at 5500. The correlation between S&P 500 earnings and GDP has fallen, indicating the influence of idiosyncratic growth drivers. Citi sees the current levels of the S&P 500 as not posing significant bubble risk, with less than 15% downside. #SP500 #economy #stocks...

#newstr #S&p500 #UsEconomy #Citi #MacroeconomicTrends #IndexComposition #TechnologicalAdvancements #GenerativeAiTechnology #Valuation #Gdp #IdiosyncraticGrowthDrivers #MegacapGrowthCompanies #ThroughcycleProfitability #BubbleRisk 

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