Posted 1/12/2024, 3:17:57 PM
Wall Street bear turns bullish, now sees S&P 500 surpassing 5,000 in 2024
- One of Wall Street's most bearish strategists now sees S&P 500 hitting record high near 5,000 in 2024
- His base-case target is 4,950, a shift after warning of a plunge in 2023 due to Fed tightening
- Cites expectations of soft landing, Fed pivot supporting stocks; warns labor market is key risk
- Admits he was "wrong by a lot" in 2023 with year-end target that was 30% below actual close
- Joins other firms including Goldman, BofA, and Deutsche that see S&P 500 surpassing 5,000