The S&P 500 index will reach an all-time high in 2024, according to analysts surveyed by Bloomberg. They’re betting the stock market will rise because the U.S. economy will avoid a recession and the Federal Reserve will likely begin cutting rates by summer. In December 2023, the S&P 500 reached its highest level so far this year.
The S&P 500 index, which tracks the performance of the 500 largest companies in the United States by capitalization, will reach an all-time high in 2024. This was reported by Bloomberg with reference to the results of the Bloomberg Markets Live Pulse expert survey.
More than 500 experts surveyed expect the S&P 500 to reach 4,808 points in 2024. Compared to the current level of the index, this forecast represents an increase of 4%, the agency notes.
In their forecasts, analysts point out that a recession in the US economy is likely to be avoided, as well as a possible reduction in interest rates by the US Federal Reserve until the summer, which will have an impact positive in the stock market.
On December 8, the S&P 500 hit its highest level since the beginning of the year. The growth of the market was facilitated by the increase in quotes of the parent company Google by 5.3% and AMD by 10%. Google shares rose in price amid news of the launch of its own AI model, AMD shares benefited from the announcement of new AI accelerators in its product line, noted Freedom Finance global strategist, Mikhail Stepanyan.
Author:
Kirill Bilyk
Source: RB
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