HERE IS A SUMMARY OF WHAT EVERY SINGLE BANK EXPECTS FROM THE STOCK MARKET IN 2024

BARCLAYS $Barclays (BCS.US)$
PREFERERS LARGE CAP STOCKS
-> AIMED AT HEDGING AGAINST MARKET SHOCKS.
-> PROVIDES AN OPPORTUNITY FOR SIMULTANEOUS EXPOSURE TO QUALITY
ALSO FAVOURS VALUE OVER GROWTH STOCKS
-> BASED ON HIGH EXPOSURE TO REAL RATES
-> DUE TO LOW EXPOSURE TO INTERNATIONAL SALES

BLACKROCK $Blackrock (BLK.US)$
OVERWEIGHT AI
-> FOCUSED ON A 6 - 12 MONTH HORIZON
-> BELIEVES IN THE TECH SECTOR'S EARNINGS RESILIENCE
-> EXPECT'S THE US TECH SECTOR TO BE A MAJOR DRIVER OF CORPORATE PROFIT GROWTH IN 202
THINKS THE OVERALL RALLY IS DRIVEN BY HOPE OF RATE CUTS AND SOFT LANDING AND THINKS PEOPLE MAY BE DISAPPOINTED

BNY MELLON $Bank of New York Mellon (BK.US)$
US STOCKS LEAD THE RALLY
-> DRIVEN BY RESILIENT ECONOMY AND AI TECH BOOSTING CORPORATE PROFITS
->ROOM FOR THE RALLY TO BROADEN
MAGNIFICENT SEVEN
-> CONSIDERED NOT OVEREXTENDED
-> SUPPORTED BY STRONG CASH BALANCES
-> COMPETITIVELY POSITIONED FOR AI ADVANCEMENTS

CHARLES SCHWAB $Charles Schwab (SCHW.US)$
INTERNATIONAL STOCKS OUTPERFORM US STOCKS
POSSIBLE LAG IN US MEGA-CAP SEVEN STOCKS:
-> DEPENDED ON AGGRESSIVE FED RATE CUTS IN 2024 FOR MOMENTUM
AI-RELATED STOCKS SEE GROWTH POTENTIAL
BENEFITING FROM INCREASING CAPITAL INVESTMENT

CITI $Citigroup (C.US)$
BELIVES THAT STOCKS WILL CONTINUE TO RALLY
SAYS S&P 500 HAS LIMITED FORESIGHT ON RECESSIONS AND PARTICULARLY PREDICTIVE OF UPCOMING RECESSIONS
ASKS INVESTORS TO WATCH THESE INDICATORS FOR SOFT / HARD LANDING HINTS
-> WATCH FOR BULL-STEEPENING YIELD CURVE
-> MONITOR HIGHER CREDIT SPREADS
-> OBSERVE LOWER COPPER/GOLD RATIO

DEUTSCHE $Deutsche Bank (DB.US)$
NEUTRAL ON MEGA-CAP GROWTH AND TECH
-> DUE TO SUPERIOR RELATIVE EARNINGS GROWTH ALREADY REFLECTED IN HIGH VALUATIONS
OVERWEIGHT ON FINANCIALS AND CONSUMER CYCLICALS
-> PRICED FOR RECESSION, BENEFICIARIES OF EVENTUAL RECOVERY
NEUTRAL ON ENERGY & INDUSTRIALS

GOLDMAN SACHS $Goldman Sachs (GS.US)$
SECTORS TO WATCH IN AI TRANSFORMATION
-> SEMICONDUCTORS, CYBERSECURITY, AND HEALTHCARE
PORTFOLIO DRIVERS IN CURRENT MARKET
-> HIGH-QUALITY FIRMS, STRONG DIVIDEND PAYERS, AND REGIONAL DIVERSIFICATION
IMPORTANCE OF SKILL IN IDENTIFYING FUTURE WINNERS
CRUCIAL IN ERA OF DISPERSION BETWEEN HIGH- AND LOW-QUALITY GROWTH COMPANIES

HSBC $HSBC Holdings (HSBC.US)$
US EQUITIES FACING CHALLENGES
EUROPEAN STOCKS APPEAR CHEAPER
-> LIMITED DOWNSIDE DUE TO LOWER VALUATIONS
JAPANESE STOCKS POTENTIAL OUTPERFORMANCE
ASSET ALLOCATION STRATEGIES IN DIFFERENT REGIMES
REVERSE GOLDILOCKS: SELL EVERYTHING, STAY IN CASH.
GOLDILOCKS: BUY ALMOST EVERYTHING EXCEPT THE DOLLAR (ESPECIALLY GROWTH EQUITIES AND CARRY ASSETS)

JP MORGAN $JPMorgan (JPM.US)$
CHALLENGING MACRO BACKDROP FOR EQUITY MARKETS IN 2024
-> ANTICIPATED LACKLUSTER EARNINGS GROWTH
-> GEOPOLITICAL RISKS IMPACTING STOCK OUTLOOK
JPMORGAN'S S&P 500 ESTIMATES $S&P 500 Index (.SPX.US)$
EARNINGS GROWTH PREDICTED AT 2–3%.
PRICE TARGET SET AT 4,200, WITH A DOWNSIDE BIAS

MORGAN STANLEY $Morgan Stanley (MS.US)$
DISAPPOINTING GROWTH IN EUROPE AND EMERGING MARKETS
-> LIKELY TO UNDERPERFORM
JAPAN LEADING IN GLOBAL EQUITIES
-> REFLECTION AND ROE IMPROVEMENT AS SECULAR POSITIVES
US EARNINGS GROWTH FORECAST
-> EXPECTED TO TROUGH IN EARLY 2024 AND REBOUND THEREAFTER
INVESTMENT STRATEGY RECOMMENDATION
A BARBELL OF DEFENSIVE GROWTH AND LATE-CYCLE CYCLICALS

UBS $UBS Group (UBS.US)$
BROAD RISE IN EQUITY MARKETS EXPECTED
-> ESPECIALLY FAVORING QUALITY COMPANIES
-> INCLUDING TECHNOLOGY SECTOR WITH POTENTIAL EARNINGS GROWTH IN LESS ROBUST ECONOMIC ACTIVITY
ANTICIPATED MODERATE RALLY IN GLOBAL EQUITY INDEXES IN 2024
-> DRIVEN BY EARNINGS GROWTH
-> COUPLED WITH FALLING INTEREST RATES AND BOND YIELDS.
REGIONAL PREFERENCES IN EQUITIES
-> FAVOR EMERGING MARKET EQUITIES
-> VIEWS UK EQUITIES AS LEAST PREFERRED.

WELLS FARGO $Wells Fargo & Co (WFC.US)$
FAVORING US LARGE-CAPS OVER MID-CAPS AND SMALL-CAPS
-> ALSO PREFERS DEVELOPED-MARKET EQUITIES OVER EMERGING-MARKET ONES
PREFERENCE FOR QUALITY AND DEFENSIVE POSTURE IN EQUITIES
-> DUE TO EARNINGS PER SHARE DECELERATION AND SLOWING ECONOMY
FAVORED SECTORS
-> HEALTH CARE, INDUSTRIALS AND MATERIALS
UNFAVORED SECTORS
CONSUMER DISCRETIONARY AND REAL ESTATE.