Wall Street has no idea where stocks will end 2019 with forecasts ranging from down 5% to up 11%

Strategists at Wall Street's top brokerages and investment banks see a broader array of possible outcomes by the end of December compared to 2018.

The latest update to a stock-market expectations came on Tuesday, when Bank of America updated its outlook to reflect "trade talk, political campaigning & tweets."Leading stock forecasters differ greatly on where the S&P 500 will end up by year's end compared to this same time last year, based on CNBC analysis.

That's in contrast to last year, when nearly half of respondents saw the large-cap index closing the year at 3,000. The standard deviation of those projections was 114, just under 4%. The latest update to a strategist's stock-market expectations came on Tuesday, when Bank of America's Savita Subramanian updated her outlook to reflect "trade talk, political campaigning & tweets."

This headline could be run basically any day ever. As if people ever know which way the market will inevitably move.

Anyone who claims to have any idea where stocks will be in 4 months is 100% full of crap. Short term price targets are incredibly dumb.

Pearls of wisdom?

JohnMelloy Yeah Wall Street tends to not have any idea where stocks will end up. That is true every trading day of the year

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Source: WSJ - 🏆 98. / 63 Read more »