![]() While the Fed signaled the possibility of three rate cuts in 2024, markets are currently expecting a lot more. But celebrations may be a bit presumptuous. Here’s what else some of the most prominent analysts think will guide next year.Ī lot of the good cheer on Wall Street is coming from last week’s Federal Reserve policy decision to keep interest rates the same and indications that there could be rate cuts next year. ![]() We parsed through this year-end literature so that you don’t have to. Still, when it comes to the broader landscape, some common themes emerge. The benchmark index currently sits at about 4,740 –- so those are very different outcomes. Others, like the analysts at Capital Economics, think it’s going to ride upward 17% to 5,500. JPMorgan analysts think the S&P 500 will end next year 11% lower - at 4,200. This time around, predictions have been all over the place. So are markets in for a letdown next year?Įvery December, economists from banks, asset management companies, research firms, hedge funds and everything in between release their outlooks for the year ahead. Stocks could notch their eighth consecutive week of gains.īut a Santa rally only lasts until the presents under the tree are opened, and it’s hard to say if this momentum can extend the surge beyond holiday vacations and into the new year. The S&P 500, meanwhile, is flirting with its own record. The Dow has been soaring to record highs for multiple days in a row. Calling the remarkable past few weeks on Wall Street a Santa Claus rally or an end-of-year winning streak would be an understatement.
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