2024 Forecast: Soft Landing and S&P Rally to 5,000, Led by Earnings Rebound
• 2024 will be "year of the landing" - soft landing for US economy with disinflation allowing rate cuts mid-year
• S&P 500 target of 5,000 for 2024 - powered by corporate resilience, not rate cuts
• Earnings bottomed in Q2 2023 and will accelerate into 2024
• Positioning still quite bearish, past peak uncertainty around Fed, inflation, rates
• Want soft landing, not recession-driven rate cuts; EPS growth amid slower GDP ideal for equities