Stocks March Toward More New Highs. Here's What Wall Street Predicts for S&P 500 in 2024
Even though the U.S. stock market has rallied this year due in significant measure to the excitement surrounding artificial intelligence and expectations that the country's economy can avoid a recession as inflation declines, stock prices have proven difficult to forecast this year, as some of Wall Street's most well-known analysts have recently demonstrated.
Below is the market outlook for $.SPX.US$ in 2024.
Wall Street investment banks are increasingly divided on the stock market outlook of 2024. JPMorgan Chase warns investors to be cautious, setting the S&P 500's target price at 4200 points by the end of next year, while Yardeni Research, Oppenheimer, Deutsche Bank, Goldman Sachs, and Citibank are expecting the S&P 500 to rise above 5000 points.
The fifteen institutions' outlook average is around 4916 points. The good news is that this represents most institutions believing that the S&P 500 index is expected to break its historical high (the previous high was 4818.62 points). The bad news is that the S&P 500 index has already risen to 4774.75 points, meaning Wall Street's consensus expectation is only less than a 3% increase from the current closing price.
Source: MarketWatch, Dow Jones, Bloomberg
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Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Darylbjr : Well it's currently at 4,840.50. At this point they're just guessing
151342965 : What about mine
Ben Chor : Cool