The stock market is on the verge of a “virtuous investment cycle” that could drive corporate profits to new heights, according to a recent note from Bank of America. What Happened: Bank of America’s strategist Savita Subramanian has suggested that the stock market is about to experience a significant upturn, driven by corporate investments in artificial intelligence (AI). This surge in spending is expected to boost S&P 500 earnings per share, reported Business Insider on Tuesday. Subramanian has revised her 2024 S&P 500 earnings estimate to $250 per share, up from $235. This would represent a …
