(AP) - What lies ahead for the stock market? The AP asked leading market analysts and investment managers where they see the Standard & Poor's 500 index winding up by the end of 2013 and why. The S&P 500 closed out 2012 at 1,426 on Monday, up 13 percent for the year.
Year-end target for the S&P 500 index: 1,615.
Reasoning: Modest improvement in the economy and better company earnings. Enticed by higher returns, investors move some cash from bonds back into to stocks.
BANK OF AMERICA MERRILL LYNCH:
Year-end target for the S&P 500 index: 1,600.
Reasoning: Eventual fix to the "fiscal cliff," improving outlook for global growth.
Year-end target for the S&P 500 index: 1,575.
Reasoning: The "turbulent political environment" that held back investment 2012 will end. Company revenues will edge higher and earnings will rise.
Year-end target for the S&P 500 index: 1,525.
Reasoning: Capital spending will stabilize and the U.S. will benefit from improved manufacturing competitiveness and an energy boom.
WELLS FARGO SECURITIES:
Year-end target for the S&P 500 index: 1,390.
Reasoning: The U.S. economy flirts with recession, exports decline and investment falls.
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