2024 Predictions: S&P 500 Soaring to New Heights

Industry analysts predict that the S&P 500 will close above 5,000 at the end of 2024, with a bottom-up target price estimate of 5,068.41. However, historical data shows that analysts have historically overestimated the closing price of the index by an average of 7.2% one year in advance. Applying this average, the expected closing value for 2024 would be 4,705.21, which is 2.6% above the current closing price.