Bank of America strategists are maintaining their bullish outlook for the S&P 500 (^GSPC) in 2024, raising its year-end point target to 5,000 and average EPS to $235 for the index. Yahoo Finance's Josh Schafer joins the Live show to discuss Bank of America Strategist Savita Subramanian's comments on the 2024 forecast. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The stock market has seen some recovery as inflation continues to cool, the job market remains resilient, and consumers continue to spend. Much of the sentiment for the market going into 2024 seems to be bullish, but rising credit card debt and resuming student loans repayments are worrying some investors. Charles Schwab Chief Fixed Income Strategist Kathy Jones joins Yahoo Finance to discuss her thoughts on the performance of the market, how it relates to rising credit delinquencies, and what upcoming PCE data could mean for the market going forward. We are starting to see some catch-up amongst smaller businesses that are financing at very high interest rates right now, 8%, 10%, etc., and have to roll over those loans at a pretty consistent... short-term basis," Jones explains. "One thing about the consumer we have to keep in mind is, as long as people have jobs they will continue to spend, it's just their ability to spend a certain amount at a certain pace that's probably going to slow down. " For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
BMO Capital Markets and Deutsche Bank strategists have set a year-end 2024 price target of 5,100 for the S&P 500 index (^GSPC), the highest for the benchmark index yet among Wall Street strategists. Both teams see a significant rebound in S&P 500 earnings next year, with the S&P 500 delivering EPS of $250. Yahoo Finance's Josh Schafer weighs in on the calls for new highs in 2024. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.