UBS: The Federal Reserve will continue to support US stocks, targeting an S&P 500 index level of 7,700 points

ChainCatcher news, according to Golden Ten Data, UBS reiterated its target of 7,700 points for the S&P 500 index in a report released on Wednesday, believing that a strong macroeconomic backdrop will boost the US stock market. Ulrike Hoffmann-Burchardi, Chief Investment Officer and Global Head of Equities at UBS, stated that the Federal Reserve will continue to cut interest rates in the future, although it is expected to pause in the current easing cycle today. He pointed out that as more evidence of a weakening US labor market emerges and inflation remains under control, the Federal Reserve may be able to further cut rates.