The S&P 500 will cross 5,000 next year as companies make ‘excess profits’ and trillions of dollars in spending are unleashed, says Jefferies
- The S&P 500 will extend gains into 2022 and reach 5,000, says Jefferies in a stock market outlook note Tuesday.
- Stocks will find support from further earnings growth and a massive amount of money to be spent by consumers, companies, and the US government.
- The economy should expand by 5.1%
Federal Reserve Chairman Jerome Powell sold between $1 million and $5 million worth of stock from his personal account on October 1, 2020, according to disclosure forms reviewed by the Prospect. Powell’s sale of shares from a Vanguard Total Stock Market Index Fund has not been previously reported. This sale occurred right before the