---
title: "蒙特利尔银行的 Belski 表示，美联储降息可能会支持美国股市，但涨幅可能较为有限"
description: "BMO 资本市场的 Brian Belski 建议，预期的美联储降息可能会支持美国牛市，尽管未来的股票回报可能会受到抑制。历史上，标准普尔 500 指数在降息后通常会出现正回报，平均为 10.4%。当前经济条件良好，劳动力市场稳定，预计企业盈利将增长。BMO 维持 2025 年标准普尔 500 指数目标为 6,700 点，建议在科技、金融和非必需消费品行业增持，而在医疗保健和消费品行业减持"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/257252357.md"
published_at: "2025-09-14T13:16:43.000Z"
---

# 蒙特利尔银行的 Belski 表示，美联储降息可能会支持美国股市，但涨幅可能较为有限

> BMO 资本市场的 Brian Belski 建议，预期的美联储降息可能会支持美国牛市，尽管未来的股票回报可能会受到抑制。历史上，标准普尔 500 指数在降息后通常会出现正回报，平均为 10.4%。当前经济条件良好，劳动力市场稳定，预计企业盈利将增长。BMO 维持 2025 年标准普尔 500 指数目标为 6,700 点，建议在科技、金融和非必需消费品行业增持，而在医疗保健和消费品行业减持

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 & Poor’s 500 stock i...

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