BofA sees limited upside for S&P 500 by end of 2026

Bank of America strategist Savita Subramanian expects the S&P 500 to end 2026 at 7,100, implying just 4% upside. She warned that AI-led gains may fade, citing liquidity risks and weaker consumption from potential AI-driven job losses, making her outlook more cautious than Citi and Oppenheimer.