S&P 500 Posts 24% Gains in 2023 After Rocky Year; Analysts Cautiously Optimistic About Further Upside
• The S&P 500 climbed 24% in 2023 after a rocky year of gains and losses driven by economic factors like inflation and interest rates.
• The index recently notched a 9-week winning streak, its longest since 2004. Historically, the market tends to see gains in the year following a 9-week streak.
• However, past performance doesn't guarantee future results. Unique economic factors mean this time may be different.
• Analysts expect strong 11.8% earnings growth in 2024 which could boost stocks. The S&P 500 has a 12-month price target implying 9% upside.
• Over the long-term, the odds of positive S&P 500 returns increase dramatically. History shows patience pays off for investors over decades.