2024 Stock Market Outlook: Record Highs, Surprising Returns, and Profitable Predictions

According to Bloomberg's Markets Live Pulse survey, the S&P 500 Index is expected to reach a record high in 2024, surpassing its previous peak, as the US economy avoids a recession. However, the index's gains are projected to be lower than this year's surge of 20% due to a weaker consumer. The survey also indicates that the majority of respondents do not see a hard economic landing as the top risk to markets, and they expect Federal Reserve interest rate cuts to begin before July. While some Wall Street strategists share this bullish outlook, others express caution, citing concerns about a sputtering economy and an exhausted consumer. Overall, the median forecast suggests a modest 4% gain from current levels, below the average annual increase in a positive market year.