Although the most widely followed indices witnessed a comeback last week, the stock market is bracing to close the worst first half of a year in decades. While the Dow Jones Industrial Average rose 5.4% last week, the S&P 500 and the tech-heavy Nasdaq Composite gained 6.5% and 7.5%, respectively.
Many strategists expect quality bottomed-out stocks to make the most of the occasional rebounds. Moreover, as portfolio managers rebalance their portfolios at the end of the second quarter, stocks could increase 7% this week, according to JPMorgan Chase analyst Marko Kolanovic. On top of it, Bank of America Corp. (BAC) analysts expect the next bull market to see S&P 500 trading at 8,900 by February of 2028.
