S&P 500 could top the 4,500 mark, but not for long, says Oxford Economics

Don’t get too giddy if the S&P 500 index market eclipses the 4,500 mark, because a U.S. recession still looks likely, according to John Canavan, lead U.S. analyst at Oxford Economics.

Bond yields retreated, stocks rose and the dollar DXY sank to its lowest level since April 2022 on Wednesday, after U.S. consumer prices cooled more than expected in June, adding to hopes for the Federal Reserve to soon end its rate-hiking cycle.

Bullish…