What lies ahead for the stock market? The AP asked leading market analysts and investment managers where they see the Standard & Poor’s 500 index winding up by the end of 2013 and why. The S&P 500 closed at 1,402 Friday.
Year-end target for the S&P 500: 1,575
Reasoning: The ‘‘turbulent political environment’’ that held back investment 2012 will end. Company revenues will edge higher and earnings will rise.
Year-end target for the S&P 500: 1,525
Reasoning: Capital spending will stabilize and the U.S. will benefit from improved manufacturing competitiveness and an energy boom.
BMO Private Bank
Year-end target for the S&P 500: 1,500
Reasoning: The fiscal drag from higher taxes and lower government spending will offset an accommodating Federal Reserve.
WELLS FARGO SECURITIES:
Year-end target for the S&P 500: 1,390
Reasoning: The U.S. economy flirts with recession, exports decline and investment falls.