S&P 500 Forecast Raised to 5,000+ Points in 2024 as Major Banks Turn Bullish on Outlook
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Major financial groups like Oppenheimer, Deutsche Bank, and Bank of America have turned bullish on the S&P 500 for 2024, predicting it will reach 5000 points or more.
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Groups like Bank of America previously predicted the market would remain flat in 2023, so this is a change in outlook.
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The bullish outlook is based on the view that companies have adapted to higher interest rates over the past year and created better cost structures.
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Many strategists also don't foresee the predicted recession being as bad as expected.
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Specific S&P 500 targets include Oppenheimer and Fundstrat at 5,200 points and Bank of America at 5,000 points.