Bullish Analysts Predict Productivity Gains and Fed Intervention for Stock Market

Deutsche Bank's chief U.S. equity and global strategist, Binky Chadha, who led bullish views headed into 2023, sees a 4,500 finish for the S&P 500 and is not budging from that bullish call. Chadha said he’d rethink his more bullish outlook on “signs of corporate risk aversion. Companies pulling back and going back into the bunker.” For now, he doesn’t see that. He also weighed in on narrow market leadership, where S&P 500 gains are led by just a handful of names. As for where to put money now? “I wouldn’t be long financials here. The events of March have painted financials with a very broad brush. Most of the large-cap financials are really beneficiaries of what happened in March, but the market has put a risk premium on them,” said Chadha.