Options traders expect the S&P 500 to hover around 7,000 points by the end of the year.

According to Mars Finance, citing Jinshi, options traders expect the S&P 500 to hover around 7,000 points by the end of December. Reaching this psychological level would imply a 19% increase in the index by 2025. Currently, it's only 2.5% away from Thursday's closing price of 6,822.34 points. Despite Wall Street's optimism about the US stock market outlook, Federal Reserve Chairman Powell stated that a third rate cut is far from certain, and signs of an economic slowdown are beginning to emerge. Ferrara, an investment strategist at Gateway Investment Advisors, pointed out that the 7,000-point strike price is a very popular psychological level.