Investment Firm Forecasts S&P Will Go Higher In 2024

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Investment Firm Forecasts S&P Will Go Higher In 2024

^{Published on 2024-12-08 16:01:03 - 24/7 Wall St}

The S&P 500 could go higher in 2024 according to one bank. Its forecast is 6,200, slightly above the current level.

The article from 24/7 Wall St. discusses a forecast by investment firm Fundstrat Global Advisors, predicting that the S&P 500 will reach 5,200 by the end of 2024, representing a 12% increase from its current level. Fundstrat's Tom Lee attributes this optimistic outlook to several factors including a potential soft economic landing, the Federal Reserve possibly cutting interest rates, and a broadening of market participation beyond just the "Magnificent Seven" tech stocks. Lee also highlights the positive impact of AI on productivity and earnings, suggesting that the market's gains will be more widespread. Despite some skepticism regarding the timing of rate cuts, Lee remains confident in his forecast, supported by historical trends and current economic indicators.

Read the Full 24/7 Wall St Article at:
[ https://247wallst.com/forecasts/2024/12/08/investment-firm-forecasts-sp-will-go-higher-in-2024/ ]

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