JPMorgan Strategist Warns Stock Rally Could Stall by 2024 Due to Growth Risks
• JPMorgan strategist warns US stock market rally could lose steam by end of 2024 due to slowing growth, low savings, geopolitical uncertainty • Predicts S&P 500 could fall to 4,200 by end of 2024, an 8% drop from current levels, due to soft consumer trends if Fed doesn't ease policy • Cites factors like high borrowing costs, declining household savings, cooling global demand challenging optimistic growth outlooks • Comes after volatile 2022 for stocks, though recent rebound has S&P 500 up 11% since October, 20% overall gain for year • Headwinds like rising rates, shrinking savings, global uncertainty could undermine economic landscape