<div id="readability-page-1">The Federal Reserve’s anticipated shift toward cutting interest rates could extend the U.S. bull market, though future equity returns may be less robust than historical averages, said Brian Belski, chief investment strategist at BMO Capital Markets. In a Sept. 11 note to clients, Belski highlighted that since 1982, the Standard &amp; Poor’s 500 stock i...</div>

<p>BMO Capital Markets' Brian Belski suggests that anticipated Federal Reserve rate cuts could support the U.S. bull market, although future equity returns may be muted. Historically, the S&P 500 has seen positive returns post-rate cuts, averaging 10.4%. Current economic conditions are favorable, with stable job markets and expected corporate earnings growth. BMO maintains a 2025 S&P 500 target of 6,700, recommending overweight positions in Technology, Financials, and Consumer Discretionary sectors while underweighting Health Care and Consumer Staples.</p>

蒙特利爾銀行的 Belski 表示，美聯儲降息可能會支持美國股市，但漲幅可能較為有限