Bank Of America Predicts Bullish Stock Market In 2024

Bull or bear? ๐Ÿ‚or ๐Ÿงธ Bank of America is predicting that the S&P 500 will soar to fresh all-time highs in 2024. Are we in for a bullish stock market, or will the bears emerge from hibernation?

Key takeaways:

๐Ÿ”น The bank expects the S&P 500 to reach 5,000 points by year-end 2024, a 10% increase from its current level.

๐Ÿ”น Despite global tensions and the Federal Reserve’s aggressive monetary-tightening campaign, stocks have remained strong in 2023.

๐Ÿ”น “We are past maximum macro uncertainty,” says a team led by Savita Subramanian at Bank of America. They believe companies have adapted to higher rates and inflation.

๐Ÿ”น This bullish prediction aligns with other Wall Street strategists, suggesting a positive outlook for the stock market in the coming year.

No matter which way the markets go, we’ll be keeping a close eye on it.

Source: https://markets.businessinsider.com/news/stocks/stock-market-outlook-2024-sp-500-record-bank-of-america-2023-11?_gl=1

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The S&P 500 will roar to a new record high next year, says Bank of America, in Wall Street’s latest bullish stock-market predictionStrategists have turned bullish on the benchmark index, which has racked up stellar gains this year.