S&P 500 looks set to post 10% growth by year end

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The S&P 500 will post growth of around 10% by the end of the year, according to Gil Knight, US fund ...

The S&P 500 will post growth of around 10% by the end of the year, according to Gil Knight, US fund manager at Gartmore. While cautiously optimistic on the direction of the market, he concedes it will not be plain sailing and a number of macro risks still overhang the US economy. Despite this, he is confident the S&P 500 will reach 1,225 by the end of 2004, up from its current level of 1,113. Knight's positive outlook is largely predicated on his conviction that corporate earnings will exceed estimates in the second half of the year and inflation pressures will ease. "Furthermore, the ...