Stocks are quietly repairing some of the damage done last year, according to Ned Davis Research. The S & P 500 in 2022 suffered its worst annual decline since the financial crisis, losing 19.4%. The benchmark index also entered a bear market, dropping more than 20% from its record high set in early January 2022. Key sources of that downturn were soaring inflation and tighter Federal Reserve monetary policy to fight higher prices.
's Market Strategist Survey shows the median S & P 500 strategist target sits at 4,100, implying upside of just 6.8% for 2023. The most bearish estimate comes from Barclays' Venu Krishna, who expects the index to fall about 3% for the year.
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