Posted 11/23/2023, 10:19:00 AM
S&P 500 to Hit Near-Record Highs in 2024 Before Mild Recession Causes Temporary Dip, Forecast Predicts Rebound by Year-End
- The S&P 500 will climb to near record highs of 4,750 points in Q1 2024, according to Société Générale
- The index will then plunge 12% to 4,200 points in mid-2024 as a mild US recession hits
- By Q4 2024, the S&P 500 will rally back to 4,750 points as the Fed starts cutting interest rates
- Société Générale expects 150 basis points of Fed rate cuts, slowing GDP growth, election clarity by end of 2024
- The bank says the S&P 500 will be in "buy-the-dip" territory by year-end as profit indicators improve