'Markets will end the year higher' -adviser

STORY: Investors have been gauging when the stock market might hit its bottom after the benchmark S&P 500 earlier this month recorded a 20% drop from its January closing peak, confirming the common definition of a bear market.

"We should see the end-of-year S&P 500 in the 3,900 level," said von Lipsey. "In the best case scenario, we might see more like levels in the 4,100 to 4,300 range."

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