2024 Predictions: S&P 500 Set to Reach Record High, Top Stocks Revealed
Strategists at Oppenheimer Asset Management predict that the S&P 500 index will reach a record high of 5,200 by the end of 2024, representing a nearly 13% gain from its current level. They anticipate a transition in 2024 as the Federal Reserve shifts from a restrictive monetary policy to an easier stance, leading to lower interest rates. Despite expectations of slowing economic growth, Oppenheimer remains optimistic about corporate revenues and earnings, projecting S&P 500 companies to reach $240 per share in earnings. This bullish outlook aligns with other Wall Street analysts, including Fundstrat's Tom Lee and Ed Yardeni of Yardeni Research.
