A bullish way the stock market might not look like the economy in 2024 🤯
'The best backdrop for equity returns' 🙃
On Tuesday, BofA analysts revealed one of the more bullish calls we’ve seen yet.
“We forecast 5,000 by year-end 2024 for the S&P 500 (+10% from today),“ BofA’s Savita Subramanian wrote in a very thorough 79-page research note.
A popular prediction on Wall Street is that the Federal Reserve will begin cutting interest rates after spending most of the past two years raising rates. This would be a welcome development for investors as lower rates could mean looser financial conditions, which theoretically should create a bullish environment for stock prices.
But Subramanian’s thesis is about much more than friendlier financial conditions.