A top executive at the retail-focused trading app giant Robinhood is updating her targets for the S&P 500 this year.
In a new interview on CNBC’s Squawk Box, Robinhood CIO Stephanie Guild says that she believes the S&P 500 may close the year at around 6,200, though a move to 6,500 is on the table.
“I started [the year] at 6,500. When tariffs hit, I said GDP could come down and that could impact earnings. Usually, a 1% hit on GDP is about a 4% hit on earnings. We’ve seen earnings expectations come down. I said there was risk to 5,800, but I never went there. And now I think there’s risk to 6,500 – obviously we’re over my target. But with the pumping up of potential tariffs now I’m just sort of waiting to see what happens…
This is all driven by tariffs, but is driven by our president, who also cares about the economy and wants the economy to grow…
If [the Fed] cut, then you definitely get 6,500…because then it just like reaffirms what the market has been hoping for.”
Guild also says that ahead of next week’s bank earnings, she believes regional banks will outperform the big banks in the coming months.
“I’m more bullish on the regionals than the large [banks]…I think they’ll just benefit more from deregulation.
And if we do get some rate cuts this year, which I think we should, but obviously there are reasons why they haven’t been cut yet, then I think you do get a steeper [yield] curve and then that does help [regional banks] as well.”
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