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Bank of America Says Stocks Have Been ‘Overdue’ For a Pullback, After a Slow Start to September
The S&P 500 is down about 1% in September so farCredit: Liu Yanan / Xinhua / Getty ImagesKey TakeawaysBank of America analysts told clients they believe the S&P 500 has been overdue for a pullback.They cited stubborn inflation, expectations of rising interest rates, and weak seasonal trends as reasons for caution.Stocks are off to a weak start this month, and one group of experts sees them dropping further.Bank of America analysts told clients in a note yesterday that they now expect the S&P 500 to fall to 7,400 by the end of the year, above their previous target of 7,100 but still…
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