S&P 500's 2024 Rally Shocked Forecasters Expecting It to Fizzle

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S&P 500's 2024 Rally Shocked Forecasters Expecting It to Fizzle

^{Published on 2024-12-29 12:41:06 - bnnbloomberg}

By this time last year, the stock market's rally had blown past even the most optimistic targets and Wall Street forecasters were convinced it couldn't keep up the dizzying pace.

The article from BNN Bloomberg discusses how the S&P 500's rally in 2024 defied expectations, with forecasters initially predicting a market downturn due to various economic pressures including inflation, potential recessions, and geopolitical tensions. Despite these forecasts, the S&P 500 not only maintained its upward trajectory but also set new records, driven by robust corporate earnings, a resilient U.S. economy, and significant advancements in technology sectors like AI. The article highlights the surprise among analysts and investors, who had to recalibrate their strategies as the market continued to perform well against all odds, showcasing the unpredictability of financial markets and the limitations of economic forecasting.

Read the Full bnnbloomberg Article at:
[ https://www.bnnbloomberg.ca/investing/2024/12/29/sp-500s-2024-rally-shocked-forecasters-expecting-it-to-fizzle/ ]

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