AIFortuneabout 14 hours ago
BofA warns S&P 500 faces valuation snapback
4 min read
Bank of America warned the S&P 500 will lose much of its 9% year-to-date gain as speculation hits extreme levels. The bank reaffirmed a 7,100 year-end target, a 5% drop from current levels. Hyperscalers' free cash flow has plunged due to AI spending, and the Fed may hike rates three times this year.
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