BloombergJPMorgan Sees S&P at 3,900 If Trump Wins Election:...

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    Bloomberg
    JPMorgan Sees S&P at 3,900 If Trump Wins Election: Taking StockBy Elena Popina26 October 2020, 11:40 pm AEDT

    With the final stretch of the election upon us, it’s still nearly impossible to guess how the stock market will react to next week’s vote. One estimate from JPMorgan Chase & Co.’s chief equity strategist puts U.S. stocks in for a double-digit advance if Donald Trump keeps his office.
    A victory for the Republican candidate could push the S&P 500 to as high as 3,900 at year-end under the most optimistic case laid out by Dubravko Lakos-Bujas, the bank’s chief U.S. equity strategist. The figure, some 300 points above his base-case target for year-end, implies a 12.5% advance from the gauge’s Friday close. While a number of traders have come to consider a Democratic sweep followed by a prompt fiscal deal among bullish scenarios for the equity market, Lakos-Bujas disagrees, seeing Trump’s victory as the most favorable outcome.
 
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