---
title: "蒙特利爾銀行的 Belski 表示，美聯儲降息可能會支持美國股市，但漲幅可能較為有限"
description: "BMO 資本市場的 Brian Belski 建議，預期的美聯儲降息可能會支持美國牛市，儘管未來的股票回報可能會受到抑制。歷史上，標準普爾 500 指數在降息後通常會出現正回報，平均為 10.4%。當前經濟條件良好，勞動力市場穩定，預計企業盈利將增長。BMO 維持 2025 年標準普爾 500 指數目標為 6,700 點，建議在科技、金融和非必需消費品行業增持，而在醫療保健和消費品行業減持"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/257252357.md"
published_at: "2025-09-14T13:16:43.000Z"
---

# 蒙特利爾銀行的 Belski 表示，美聯儲降息可能會支持美國股市，但漲幅可能較為有限

> BMO 資本市場的 Brian Belski 建議，預期的美聯儲降息可能會支持美國牛市，儘管未來的股票回報可能會受到抑制。歷史上，標準普爾 500 指數在降息後通常會出現正回報，平均為 10.4%。當前經濟條件良好，勞動力市場穩定，預計企業盈利將增長。BMO 維持 2025 年標準普爾 500 指數目標為 6,700 點，建議在科技、金融和非必需消費品行業增持，而在醫療保健和消費品行業減持

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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