JPMorgan remains cautious on S&P 500, sees more than 20% downside risk
JPMorgan strategists released a mid-year outlook, indicating a challenging environment for the continuation of recent stock market trends, which have seen significant gains driven by a small number of large-cap stocks.
JPMorgan's price target for S&P 500 remains 4,200, which signals a 23% downside risk from current levels. The analysis suggests that the current market conditions, characterized by narrow leadership and extreme momentum crowding, do not support a broadening of growth.
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