BMO Capital Forecasts S&P 500 to Rally 11% in 2024, Reaching New High
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BMO Capital Markets sees the S&P 500 rallying 11% in 2024 to reach a new all-time high, fueled by a second year of bull market gains
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Historically, stocks have averaged 11.1% returns in the second year of a bull market
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BMO shared 16 stocks to consider across multiple model portfolios, spanning large caps, small-mid caps, value, and growth
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Names include Boston Properties, Disney, Goldman Sachs, Merck, Qualcomm in large cap value and Citigroup, ExxonMobil, Gilead in other groups
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Other firms also generally bullish on 2024, though unlikely to repeat 2022's performance; still risk of pullbacks amid recession worries