Progress in trade negotiations will take the S&P 500 to a third consecutive year of 20% gains, according to Oppenheimer Asset Management, a feat unseen since the late 1990s.
Chief investment strategist John Stoltzfus raised his year-end target for the US benchmark to 7,100 points from 5,950, the highest among a panel of strategists tracked by Bloomberg. The new forecast implies an 11% upside from Friday’s close.