Analysts Predict Record Highs for S&P 500 in 2024
Economic Optimism Prevails as Fears of Recession Subside and Inflation Eases
- Analysts predict the S&P 500 will reach a new all-time high in 2024, with estimates ranging from 5,000 to 5,100.
- Despite initial fears, a recession did not occur in 2023 and inflation eased, leading to optimism for the economy in 2024.
- Analysts believe central banks will lower interest rates in 2024, contributing to a stable economy and avoiding an economic downturn.
- Corporate earnings growth is predicted to be 6.7% for the first quarter of 2024 and 10.5% for the second quarter.
- Bank of America and BMO Capital Markets recommend investing in financials, citing them as historically cheap.
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