RBC Capital Markets predicts a record high for the S&P 500 in 2024, bull case circa 5300

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RBC Capital Markets predicts a record high for the S&P 500 in 2024, bull case circa 5300

RBC Capital Markets forecasts a record high for the S&P 500 in 2024, citing:

• sentiment is constructive for now
• valuations can stay higher than many investors realise
• declining inflation should act as a tailwind for price to earnings multiples
• labour market resilience indicates economy should avoid recession
• targets 5,000 level (and with a bull case of 5300) which is the median of five different models used by the analysts at RBC, taking into account sentiment, valuations, earnings, the economy, politics, and the cross-asset dynamic between stocks and fixed interest 

Caveats noted:

• the US presidential election will be a source of uncertainty
• a slower economy expected in 2024 through 2025 is the biggest headwind to equity market performance

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: RBC Capital Markets predicts a record high for the S&P 500 in 2024, bull case circa 5300

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