S & P 500 index may reach the level of 2600, as the global economy improves and corporate earnings will continue to grow, - said Keith Banks, president of one of the divisions of Bank of America.
"We have witnessed a process of simultaneous recovery of economic growth on a global scale. We have not seen this. "
S & P 500 Index rose 11% after the election of Donald Trump, the US President, 2381 to Thursday, as investors expect less onerous laws and an increase in spending on infrastructure. Mr. Banks said that, according to its forecasts the index to rise to 2450 or 2500 to the end of the year.
Banks said that the political instability in Europe, including the likelihood that a populist Le Pen will win the race for the presidential place in France this year, and this may affect the decline in stock prices.
"There are things about which to worry. But prospects still positive, "- said Mr. Banks.
Keith Banks said that he would "buy" on the stock market pullback, adding that his firm likes technology and medical companies, particularly biotechnology, because they were the growth drivers.
Based on materials WELTRADE
