Why JPMorgan’s trading desk says a new record high in the S&P 500 ‘feels inevitable’

• A group of analysts from JPMorgan’s trading desk say a new record high for S&P 500 “feels inevitable.”
• Huge money waiting on the sidelines makes a technical correction seem unlikely, they said.
• Strong economic growth and improving earnings should put the index on pace for an all-time high.

The S&P 500 has already had a blistering first half of 2023, and there’s reason to believe a new record high might just be all but guaranteed at this point. 

Analysts from the bank’s trading desk led by Andrew Tyler, head of US market intelligence, wrote in a Tuesday note to clients that stocks look poised to keep climbing, largely thanks to upbeat news on growth and inflation.