Major banks split on 2024 stock market outlook, forecasts range from gains to double-digit drops
• Several major banks like Bank of America and Goldman Sachs are bullish on the stock market in 2024, forecasting 5-7% gains • Oppenheimer predicts nearly 9% gains, expecting rate cuts and moderating inflation to boost stocks • JPMorgan and Morgan Stanley are more bearish, projecting declines of 12% and 6% respectively in 2024 • Stifel sees a flat or slightly down market, calling for a "range-bound" S&P 500 into the 2030s • Historical trends bode well for gains in an election year, but long-term investors can likely still benefit from buying indexes