S&P 500 could gain 12% over the next year, Credit Suisse says

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The stock market's broadest gauge will rise 12% by the end of next year as the U.S. economy normalizes after a Covid-19 vaccine, Credit Suisse said Wednesday.

The bank's market strategists, led by chief U.S. equity strategist Jonathan Golub, said tech stocks and bank stocks should help lead the S&P 500 to 4,050 by the end of 2021.