Is there limited room for further price increases for the S&P 500 by the end of the year - MLIV survey

June 24, 2024 9:44 JST
About half of the respondents predicted that an adjustment phase of at least 10% will be reached by the end of this year.
Most people answered that US stocks are more expensive than credit or gold.

Investors are increasingly nervous about expensive valuations of US stocks, and there is a high possibility that the S&P 500 stock price index has already recorded most of this year's gains. The results of the latest Bloomberg “Markets Live (MLIV) Pulse” survey were shown.

　　The S&P 500 has updated the highest value based on the closing price 31 times in the rising market so far this year, but the majority of 586 respondents answered that this asset class is more expensive than the US credit market and gold. Since 2022/10, it has rapidly grown by about 50%, driven by technology stocks, and recorded a larger rise than the median value of the predecessor of the same index, which dates back to 1957.