BofA expects US stocks to pullback this summer: here's why

Bank of America says investors should be cautious after the S&P 500 reached its year-end target of 7,430. The call implies less upside from current levels and warns against aggressively chasing the rally. The note is likely to affect sentiment more than fundamentals, with limited immediate market impact.

Analysis

Bank of America says investors should be cautious after the S&P 500 reached its year-end target of 7,430. The call implies less upside from current levels and warns against aggressively chasing the rally. The note is likely to affect sentiment more than fundamentals, with limited immediate market impact.