Wall Street's dirty secret: It's terrible at forecasting stocks | CNN Business

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Here’s the thing: They’re almost always wrong. What’s happening: Last year, Goldman Sachs analysts predicted that the S&P 500 would close out 2022 at 5,100 points. Morgan Stanley predicted a more bearish 4,400. The S&P 500 closed on Tuesday at 3,829.

Technically, the “official” time frame for a Santa Claus rally is the week of trading between Christmas and New Year’s Day, but analysts believe it’s unlikely that Saint Nick will reward investors with a nice, big rally to end the year. During this period, the S&P 500 has historically gained 1.3% on average, according to data from LPL Financial going back to 1950. The average return for all rolling seven day periods is just 0.2%.

when distortion of factual truth becomes a narrative it is a deception and corruption. Lady Liberty’s now sees her torch lights a pathway paved with truths written within the book held over her heart. The scales of the peoples justice is unbalanced.

But But But it's only Tesla stock and Elon bad

Easy to predict when you elect a democrap 🤬

They didn’t know Joe

And cnn blames Trump for all of this and Jan 6

Must be all that 'winning' from pedo peter

Well... your definition of 'major analyst' like 'medial expert' or 'political expert' is generally terrible, so no wonder your sources got it wrong, they get everything wrong

I knew it was going to happen because...Biden.

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Stocks mostly fall on Wall Street, adding to recent lossesStocks were mostly lower Tuesday afternoon after the long holiday weekend, adding to the market’s recent losses as Wall Street counts down its final days of trading in 2022 after a painful year for investors.
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