Will Recession Accompany Bull Market In 2024? Analysts Project S&P 500 Nearing 5,000 Mark
Portfolio Pulse from Piero Cingari
LPL Research predicts a U.S. recession in 2024 due to consumer debt burdens but suggests a shallow recession could lead to Federal Reserve interest rate cuts, potentially boosting risk appetite. They anticipate the S&P 500, as tracked by SPDR S&P 500 ETF Trust (SPY), to approach 4,850 to 4,950 by the end of 2024, with a chance of exceeding 5,000. LPL recommends U.S. equities, favoring Energy and Communication Services sectors.
December 13, 2023 | 5:04 pm
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POSITIVE IMPACT
LPL Research projects the S&P 500 to reach 4,850 to 4,950 by end of 2024, with potential to exceed 5,000, indicating a positive outlook for SPY.
The positive projection for the S&P 500 directly impacts SPY as it tracks the index. The anticipation of a bull market and potential interest rate cuts by the Fed could lead to increased investor confidence in SPY, driving its price up in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100