Economics
Birinyi Says S&P 500 May Reach 1,700 in Echo of 1995
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The Standard & Poor’s 500 Index has the potential to reach a record high of 1,700 this year should economic growth surprise investors the same way falling bond rates did in 1995, Birinyi Associates Inc. said.
Reaching that level would mean a 24 percent rally from today’s close of 1,374.09, data compiled by Bloomberg show. The benchmark gauge for U.S. equities gained 103 percent since it reached a 12-year low on March 9, 2009. In 2012, it’s off to the best start to a year since 1991. The measure’s all-time high of 1,565.15 was set in 2007.