Top Wall Street strategists see a bumpy 2023 ahead with minimal returns for stocks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Many strategists are seeing double-digits drawdowns during 2023 as the economy is expected to deteriorate.

A brutal year for stocks has made Wall Street strategists cautious about what's ahead as most are forecasting a similarly bumpy 2023 with minimal returns. The average 2023 year-end target for the S & P 500 stands at 4,147, less than 7% higher than its current level, according to

Market Strategist Survey, which rounds up estimates from 15 top Wall Street strategists. While the average forecast calls for a higher year, many are seeing double-digits drawdowns during the period as the economy is expected to deteriorate. There's a big divergence of outcomes for next year — from Deutsche Bank and CFRA seeing the S & P 500 rallying 16% to top 4,500 to Barclays projecting another down year to 3,725. The top-of-mind concern for the year ahead is the risk of a U.S.

Pro's guide to investing in 2023 A China 'spending boom?' Your guide to emerging market investing in 2023 2023 should be a brighter year for the traditional 60/40 portfolio Nasdaq had its worst year since 2008.

's Michael Bloom contributed reporting.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines