S&P 500 Calls for 2024 Reflect Limited Increase for Stocks

📆 12/31/2023 1:54 AM
📰 YahooFinanceCA

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Many strategists' S&P 500 calls for 2024 already reflect a limited increase for stocks next year. The median target among the 20 Wall Street strategists tracked by Bloomberg shows the benchmark index finishing 2024 at 4,850, less than 2% higher than where the benchmark closed 2023. Strategists at Goldman Sachs already boosted their 2024 target to reflect the recent run-up in stocks and the shift to a more dovish Fed., with year-end targets of 5,200 for the S&P 500, reflecting about 9% upside from the 2023 close. Meanwhile, the lowest call on the Street for 2024 isthat the S&P will sink to 4,200, which would mark a 12% decline for the benchmark index in 2024.Those that either see the economy not entering a recession at all, or believe that outcome has been talked about so much it won't entail much impact for stocks, predict the S&P 500 hits at least 5,000 in 2024. That camp includes firms like Oppenheimer, Fundstrat, Goldman Sachs, Deutsche Bank, and Bank of America. and causes mass hysteria over it

Given the rally, many strategists' S&P 500 calls for 2024 already reflect a limited increase for stocks next year. The median target among the 20 Wall Street strategists tracked by Bloomberg shows the benchmark index finishing 2024 at 4,850, less than 2% higher than where the benchmark closed 2023. Strategists at Goldman Sachs already boosted their 2024 target to reflect the recent run-up in stocks and the shift to a more dovish Fed.

, with year-end targets of 5,200 for the S&P 500, reflecting about 9% upside from the 2023 close. Meanwhile, the lowest call on the Street for 2024 isthat the S&P will sink to 4,200, which would mark a 12% decline for the benchmark index in 2024.Those that either see the economy not entering a recession at all, or believe that outcome has been talked about so much it won't entail much impact for stocks, predict the S&P 500 hits at least 5,000 in 2024. That camp includes firms like Oppenheimer, Fundstrat, Goldman Sachs, Deutsche Bank, and Bank of America. and causes mass hysteria over i

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