Wall Street’s top strategists have been publishing their comprehensive outlooks for the market in 2024. (Read more here, here, and here.)
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.
