The Dow and S&P 500 will rally 9% this year, according to survey of Wall Street analysts

Wed, 02/22/2023 - 10:27

The Dow was up in morning trading following a drop on Monday of over 800 points, which sent the market into bear territory as fears of a possible recession loom. — People walk by the New York Stock Exchange (NYSE) on June 14, 2022 in New York City.
Spencer Platt/Getty Images

The S&P 500 could rally as much as 9% this year, according to a Reuters survey.
Analysts forecasted the key index could end the year at 4,200.
High interest rates and inflation could lead to a correction this month, analysts added.

The S&P 500 and the Dow Jones Industrial Average will post full-year gains of about 9% in 2023, according to a survey of market analysts conducted by Reuters.

42 analysts surveyed predicted the benchmark S&P 500 could end 2023 at 4,200, which is unchanged from a similar poll conducted by the news outlet in November. That level would mark a 5% increase from Tuesday's close of 3,997.