Cindy Ord/Getty Images
Fundstrat’s Tom Lee had the most accurate stock market outlook for 2023, while almost everyone else was bearish.
A year ago, he said the S&P 500 would end 2023 at 4,750, which is within 1% of its current level.
Here’s what he expects the stock market will do in 2024.
Fundstrat’s Tom Lee raised plenty of eyebrows this time a year ago when he forecasted that the S&P 500 would soar more than 20% in 2023 to end the year at 4,750.
Investors were still licking their wounds from a brutal bear market that lasted nearly all of 2022, and there were few indications that suggested a strong stock market recovery was imminent.
“US economy remarkably resilient in the face of rapid Fed hike cycle. The plurality of equity investors expect an inevitable recession as Fed hikes until it breaks something. But if above assessment [falling inflation, end of rate hikes] is correct, a ‘soft landing’ is the highest probability,” Lee said in his 2023 stock market outlook.
And that’s just…
2023-12-28 22:06:24
Article from finance.yahoo.com
