Wall Street often gets it wrong when it comes to anticipating where stocks might be trading one-year out. But in 2022, its forecasters were set to miss the mark by the widest margin in nearly 15 years, according to data compiled by FactSet.
This year, however, Wall Street’s top strategists have been more cautious, spending much of the time slashing their year-end stock-market targets as the Federal Reserve kept raising rates to fight stubbornly high inflation and causing volatility across markets, including stocks, bonds, currencies and commodities, to explode.
Forecasts, however, from the group were spread over an unusually wide range, market strategists told MarketWatch. Notably, Goldman Sachs’ GS Chief Economist Jan Hatzius expects economic growth in the U.S. to slow, but avoid a recession. Investors have continued to cling to hopes for a late-year 2023 rate cut from the Fed, futures show, even as the Fed’s latest “dot plot,” released earlier this month, suggest senior central bankers don’t expect to cut rates until 2024.
Bulls and bears: wildly different outlooks A look outside of major investment banks shows bulls and bears with dramatically different visions of how they expect next year to play out.
Bc no one knows shit.
Wall Street is a joke