US Economy Primed For 2024 Rebound: Goldman Sachs Envisions S&P 500, Bond Surge As Inflation Pressure Eases
Portfolio Pulse from Piero Cingari
Goldman Sachs' Macro Outlook 2024 predicts an upturn in the US economy, with a 2.1% growth rate, lower inflation, and a 15% probability of recession. The bank forecasts the S&P 500 Index to reach 4,700, implying an 8% increase in the SPDR S&P 500 ETF Trust (NYSE:SPY). The bank also expects bonds to perform well in 2024, particularly if central banks cut interest rates to mitigate growth risks as inflation declines.
November 08, 2023 | 10:05 pm
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Goldman Sachs forecasts an 8% increase in the SPDR S&P 500 ETF Trust (NYSE:SPY) in 2024, driven by a predicted upturn in the US economy.
Goldman Sachs' positive outlook for the US economy in 2024, including a 2.1% growth rate and lower inflation, is expected to drive an 8% increase in SPY. The bank's forecast for the S&P 500 Index, which SPY tracks, stands at 4,700, up from current levels.
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