S&P 500 Surges 19% as Analysts' Recession Fears Fizzle, Tech Stocks Soar - Further Gains Seen in 2024 Despite Lingering Risks
• Wall Street analysts wrongly predicted a recession in 2023, instead the economy continues growing and inflation is easing • The S&P 500 is up 19% in 2023, fueled by big tech stocks like Apple and Microsoft • Multiple analysts predict the S&P 500 will climb to new highs in 2024 between 4,800 and 5,000 • Risks include contraction of household savings, geopolitical conflicts expanding, and the Fed not cutting rates • Historically the S&P 500 ends higher 68% of the time and 83% in the 4th year of a presidential cycle