While banks including Goldman Sachs and Bank of America raised their S&P 500 year-end targets on Tuesday, Bannister is doubling down on his bearish view and calling for a 12% corr

History says the S&P 500 could advance 26% in the next year, and most Wall Street analysts see The Trade Desk and Okta as undervalued stocks at current prices.

The S&P 500 ended Tuesday's choppy session slightly lower as investors waited for clarity on U.S. trade policy after President Donald Trump's latest tariff threats dampened hopes around talks with some trade partners.