"S&P 500's Journey: From Predicted Pullback to Record Highs and Historical Performance Insights"
TL;DR Summary
Fundstrat's Tom Lee predicts a stock market pullback in early 2024, despite overall bullish expectations for the year. He anticipates a 5% consolidation after January's all-time highs, driven by four factors: market anticipation of more Federal Reserve interest rate cuts than expected, potential delays in AI development due to systematic hacks, the need to consolidate late 2023's rapid gains, and typical election year market patterns. However, any dips are seen as buying opportunities, with sidelined cash poised to support a quick recovery.
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- S&P 500 Could Hit Record This Year, Morgan Stanley Says Bloomberg
- How the S&P 500 Historically Performs After a Record High. Investors Take Note. Barron's
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