Bank of America-Merrill Lynch’s head of U.S. equity strategy David Bianco predicts the S&P 500 Index, a broad indicator of stock activity, to grow 15 percent by 2010 to 1275.

Growth will be driven by sales growth in four “global cyclical” sectors of Technology, Energy, Industrials, and Materials, Bianco said in a statement released Monday.

These four sectors have high direct foreign sales and benefit from high commodity prices and U.S. exports, Bianco noted.

Bianco’s comments were included in the firm's “Global Macro Year Ahead” economic and market forecasts.

Merrill Lynch