Wall Street bull slashes outlook for S&P 500, citing Trump tariff impacts

[mahatmakanejeeves]

Last edited Thu Apr 24, 2025, 06:20 PM - Edit history (1)

Yahoo Finance
Wall Street bull slashes outlook for S&P 500, citing Trump tariff impacts

Josh Schafer • Reporter
Thu, April 24, 2025 at 10:26 AM EDT 2 min read

Wall Street bulls continue to get more bearish

Deutsche Bank chief global strategist Bankhim Chadha cut his S&P 500 (^GSPC) year-end target to 6,150 from a prior forecast of 7,000, which had been among the most bullish on Wall Street entering the year. The new target reflects about 14% upside from current levels. ... Chadha is now the 11th strategist tracked by Yahoo Finance to cut an S&P 500 target amid President Trump's tariff escalation.

Chadha sees various scenarios resulting from Trump's tariffs that could hit S&P 500 earnings in 2025, leading to his less optimistic forecast for the benchmark index. Tariffs could send prices higher and weigh on demand. There could also be less trade with China, and slowing economic activity. All in all, the headwinds would send S&P 500 earnings per share down to $240 from a prior forecast of $282, he said.

"If the tariffs are sustained, the negative impacts for S&P 500 companies’ earnings is very large," Chadha wrote.

{snip}

[EYESORE 9001]

1. Next up to bat: the bear

I don’t look for a bull market until at least the midterms. If the economy lasts that long, that is.

[progree]

2. "year-end target to 6,150" - interestingly that's only 6 points (0.1%) above it's Feb 19 close

Last edited Thu Apr 24, 2025, 07:00 PM - Edit history (1)

which is the S&P 500's all-time high. At today's (4/24) close we're at 5,485, down 10.7% from the all-time high.