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From Bearish To Bullish: Major Analysts Predict US Stock Market's Performance In 2024

Published Dec 02, 2023 21:00 Updated Dec 02, 2023 22:10
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© Reuters. From Bearish To Bullish: Major Analysts Predict US Stock Market's Performance In 2024
 
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Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.

As 2023 is about to conclude with notable market gains, Business Insider offered an in-depth analysis of Wall Street's predictions for the stock market in 2024.

These forecasts reported by the outlet cover various scenarios, from potential economic downturns to the ongoing strength of the bull market, providing investors with insights into what might lie ahead. Here's a closer look at each major financial institution's forecast.

BCA Research presented a bearish outlook for the S&P 500 in 2024, predicting a significant downturn. It anticipated a recession in both the U.S. and euro area, stating, "A recession in the US and euro area was delayed this year but not avoided." BCA Research expects the S&P 500 to fall into a range of 3,300 to 3,700 unless there's a substantial easing in monetary policy or a rapid decrease in inflation.

JPMorgan (NYSE: JPM) also forecast a challenging year, setting a bearish S&P 500 target of 4,200. It cited factors such as high equity valuations and geopolitical risks, with analysts Marko Kolanovic and Dubravko Lakos-Bujas noting, "We expect a more challenging macro backdrop for stocks next year with softening consumer trends."

Also Read: The Wolf Of Wall Street Says He Was Wrong About Bitcoin: 'I Really Hated Crypto'

Morgan Stanley (NYSE: MS) adopted a neutral stance, predicting a flat market but highlighting potential sector-specific performances. Its S&P 500 target is 4,500, with the firm stating, "The question for investors at this stage is whether the leaders can drag the laggards up to their level of performance."

Goldman Sachs (NYSE: GS) also maintained a neutral position, expecting the S&P 500 to end 2024 slightly higher at 4,700. It believes solid corporate earnings will buoy stock prices, provided a recession is avoided.

Bank of America (NYSE: BAC) offered a bullish perspective, setting an S&P 500 target of 5,000. Its optimism is based on the Federal Reserve's monetary policy tightening.

RBC shared a bullish view, also predicting the S&P 500 to reach 5,000. Its outlook is influenced by the market's adaptation to higher rates and inflation, as well as the Federal Reserve's policy progress.

Now Read: Conservative Or Bold? Crypto Analyst Foresees Bitcoin Hitting $100K In Next Bull Market

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

From Bearish To Bullish: Major Analysts Predict US Stock Market's Performance In 2024
 

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stargazer vk
stargazer vk Dec 03, 2023 13:44
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From 3300 to 5000... That's all you need to know about analytics and their job...
 
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