Economics
Birinyi Says S&P 500 Bull Market Intact, Cuts Outlook
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Weakening economic growth will cut returns for the Standard & Poor’s 500 Index this year while failing to end the bull market that started 17 months ago, according to Birinyi Associates Inc.
The benchmark gauge for American equities will probably rise 17 percent from today’s close to 1,225 by year-end, the Westport, Connecticut-based research and money management firm founded by Laszlo Birinyi wrote in a note to clients. Birinyi forecast a rally to 1,325 on March 29.