S&P 500 On Track For 5K Milestone In 2024, RBC Says
Portfolio Pulse from Benzinga Neuro
RBC Capital Markets predicts the S&P 500 will reach a milestone of 5,000 points in 2024, a 10% increase from its last closing. This bullish outlook is supported by five models analyzing sentiment, valuation and earnings, the economy, politics, and stock-bond interrelation. The forecast aligns with other optimistic views from Wall Street, despite potential volatility from the 2024 presidential election.
November 27, 2023 | 3:31 am
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RBC Capital Markets' bullish forecast for the S&P 500 to reach 5,000 points by 2024 suggests a positive outlook for SPY, an ETF tracking the index.
The SPY ETF directly tracks the performance of the S&P 500, making RBC's bullish prediction highly relevant. The forecast of a 10% increase is significant for investors, although the potential volatility from the 2024 presidential election could affect the confidence of this prediction.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100