Wall Street Eyes Modest Returns in 2024 Amid Economic Uncertainty
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Wall Street strategists have a wide range of 2024 targets for the S&P 500, from 4,200 to 5,500, reflecting uncertainty about the economic outlook.
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Most expect modest economic growth in 2024, with some risk of recession. Inflation is expected to continue cooling.
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Earnings growth forecasts for 2024 range from 5% to 11%, with AI and tech seen as potential catalysts.
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Valuations are debated but seen as elevated, with P/E ratios above historical averages.
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Strategists caution that one-year targets are very difficult to forecast accurately and should not drive investment decisions.