{"id":2104695,"date":"2023-11-21T11:01:02","date_gmt":"2023-11-21T16:01:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-500-to-see-small-gain-in-2024-as-us-economic-risks-rise-reuters-poll\/"},"modified":"2023-11-21T11:03:35","modified_gmt":"2023-11-21T16:03:35","slug":"sp-500-to-see-small-gain-in-2024-as-us-economic-risks-rise-reuters-poll","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-500-to-see-small-gain-in-2024-as-us-economic-risks-rise-reuters-poll\/","title":{"rendered":"S&#038;P 500 to see small gain in 2024 as US economic risks rise \u2013 Reuters poll"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsp-500-to-see-small-gain-in-2024-as-us-economic-risks-rise-reuters-poll%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2104695&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><strong>1:06 \u200dPM UTC \u2013 November 21, 2023<\/strong><\/p>\n<p><strong>NEW YORK \u2062(Reuters) \u2013<\/strong> According to a Reuters poll released on Tuesday, strategists predict that the S&#038;P 500 will only\u200d see a modest 3% increase next year, with the\u2062 possibility of a \u2063U.S. economic slowdown or \u200drecession being the biggest risks for the\u2064 market in 2024.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The median forecast of\u200c 33 strategists polled \u200bby Reuters over the past week and a half \u2062suggests that the benchmark index (.SPX) will \u2063reach 4,700 by the end of next year, a 3.4% increase from Monday&#8217;s closing of 4,547.38.<\/p>\n<p>When \u200basked if U.S. stocks \u2064will hit \u200da record high in the next\u2063 six months, nine \u2062out of\u200b 13 strategists answered yes,\u2062 with most expecting it to happen in early 2024.<\/p>\n<p>Recent weeks \u200dhave seen \u2062a strong rally in \u200cWall\u200b Street stocks, driven \u200bby the belief that the\u2063 Federal Reserve will <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-500-to-see-small-gain-in-2024-as-us-economic-risks-rise-reuters-poll\/\" title=\"S&#038;P 500 to see small gain in 2024 as US economic risks rise \u2013 Reuters poll\">stop raising interest \u2062rates<\/a> and may even cut\u200c them next year.<\/p>\n<p>Investors were pleased with the October inflation data, which showed a decrease in gasoline\u200c prices. So far in 2023, the S&#038;P 500 has risen by approximately 18%.<\/p>\n<p>While the Fed has kept\u2062 rates steady in\u200d November, it has raised\u200b its policy\u2063 rate by 525 basis points since 2022 \u200bin an effort to \u2062control inflation.<\/p>\n<p>There\u2064 are concerns that the\u2063 economy could enter\u200c a recession next \u200dyear or at least experience a slowdown.<\/p>\n<p>&#8220;We see the economy weakening further into 2024, and, at some point the consumer will break,&#8221; said \u200cPaul Christopher, head of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-holds-gains-ahead-of-earnings-jobs-data\/\" title=\"Wall Street maintains gains before earnings, jobs data.\">global investment strategy<\/a> at Wells \u2063Fargo Investment Institute.<\/p>\n<p>However, Christopher believes that the U.S. economy could quickly transition to recovery mode in the second half of the year.\u200d Wells Fargo Investment Institute predicts that the S&#038;P 500\u200d will end next \u200byear between 4,600 and 4,800.<\/p>\n<p>Market \u200dexpectations include a deceleration in inflation, with a greater than 50% chance of a rate\u200d cut of \u200dat least 25 basis points by May, according to CME&#8217;s FedWatch Tool on Monday.<\/p>\n<p>Goldman Sachs&#8217;s economic team, on the other hand, stated in a recent note that the Fed will hold off on\u2063 cutting rates\u200c until the fourth quarter of next year,\u200b as stronger-than-expected economic growth could prevent a recession.<\/p>\n<p>Strategists also identified\u2062 geopolitical problems, such as the conflict between Israel and Hamas militants in Gaza, as\u200c additional risks to the market in 2024.<\/p>\n<p>When \u2062asked about the U.S. corporate profit outlook, ten out of 13\u2064 strategists expect earnings to grow in the next six months.<\/p>\n<p>Based on LSEG data, overall S&#038;P 500 earnings growth for 2023 is estimated at 2.3% after a weak first half of the year. Analysts anticipate a rise of 11.2% in earnings for 2024 compared\u200c to the previous year.<\/p>\n<p>Although recent market gains have led to increased valuations, \u200dwith the S&#038;P 500 index&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dow-jones-industrial-average-tanks-500-points-ends-september-down-8\/\" title=\"Dow Jones Industrial Average Tanks 500 Points - Ends September Down 8%\">forward 12-month price-<\/a>to-earnings ratio currently at 19.1, technology (.SPLRCT)\u2062 remains\u2062 a favorite sector going into 2024, having already risen by 52% this year.<\/p>\n<p>&#8220;The technology revolution continues,&#8221; \u2062said Tim Ghriskey, senior portfolio strategist at\u2063 Ingalls &#038; Snyder in New York.<\/p>\n<p>The poll\u200c also \u2062predicts that the \u200bDow Jones industrial average (.DJI) will reach 38,000 by the end of next year, representing an 8% increase from Monday&#8217;s \u200dclose. The Dow has risen by 6% so far in 2023.<\/p>\n<p><sub>Reporting by Caroline Valetkevitch; additional reporting by Chuck Mikolajczak, Sinead Carew and Stephen Culp in New York; Additional polling by Pranoy Krishna, Rahul Trivedi and Sarupya Ganguly in Bengaluru, Editing by Alexandra Hudson<\/sub><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t<strong>Share this post!<\/strong>\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Javier Milei wins Argentina\u2019s Presidential Election, Elon Musk takes on Media Matters and Joe Biden is \u200d81 years young.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Special Counsel\u200d Robert Hur is reportedly *not going to charge President Joe Biden in his classified document case.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>The D.C. Circuit Court Of Appeals Hears Oral Arguments Regarding The Temporarily Suspended Trump Gag \u200dOrder.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Joe Biden pardons this year&#8217;s turkeys, \u200cLiberty and Bell, on his birthday,\u2063 carrying out a \u2064decades-long White House tradition<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Social media company X CEO Linda \u200bYaccarino told employees\u2064 that &#8220;data will tell the real story&#8221; \u200dabout its \u2064efforts to battle antisemitism.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Microsoft emerged as the big winner of the\u2064 upheaval at OpenAI, hiring ousted CEO\u2064 Sam Altman and other\u2064 key staff of the startup.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>OpenAI named ex-Twitch boss Emmett Shear \u2064as interim CEO, \u200cwhile\u2063 outgoing chief Sam Altman\u2064 is set\u200c to\u2064 join backer\u200c Microsoft in a surprise turn of events for \u2064the startup.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>OpenAI&#8217;s staff has threatened to quit the AI startup\u2063 and join\u200d former boss Sam Altman at Microsoft&#8217;s new\u200b division unless the board resigns.<\/h2>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What sector is \u2062expected \u2064to perform well \u200din \u20622024 despite \u200cincreased valuations<\/h2>\n<p><span>  \u200cGrogan, and Lewis Krauskopf; Editing\u2062 by \u200dJonathan Oatis<\/sub><\/p>\n<\/div>\n<p><\/body><\/html><\/p>\n<p>In\u200b a recent Reuters \u200bpoll, strategists have predicted \u2062that the \u2062S&#038;P 500 will only see \u2063a modest 3% increase next year. The biggest\u200c risks \u200dfor\u2063 the market in 2024 include the possibility of a US economic slowdown or recession.<\/p>\n<p>According to the median forecast of 33 strategists polled\u200c by Reuters, the\u200d benchmark index is expected to reach 4,700\u2062 by the end of next year, marking\u2064 a \u20643.4% increase from its closing on Monday \u200bat 4,547.38.<\/p>\n<p>When asked about the possibility\u200c of US stocks \u200dhitting a record high in the \u200bnext six months, nine\u200c out of 13 strategists answered \u2064affirmatively, with most expecting \u2062it to happen in early 2024.<\/p>\n<p>Recent \u2062weeks have \u200dseen a strong \u200drally in Wall Street stocks, driven by the belief that the Federal Reserve will halt its interest rate hikes and may even consider cutting rates next year. Investors have been encouraged by the October inflation\u200b data, which showed a decrease in gasoline\u200d prices. \u2063So far this year, the S&#038;P\u2063 500 has risen by approximately 18%.<\/p>\n<p>While the Federal Reserve\u200c kept rates steady in November,\u200b it \u200chas raised its policy rate by 525 basis points\u200c since 2022\u200d as \u200ca \u200cmeasure to control inflation. \u200bHowever, concerns remain that the economy could enter a\u2062 recession next year or at least experience a slowdown.<\/p>\n<p>Paul Christopher, the head of global investment strategy at Wells\u200d Fargo \u2062Investment Institute,\u2063 predicts \u2064a further weakening of the economy into 2024, stating that at some point, the consumer will \u200cbreak. Nevertheless, Christopher believes\u2064 that the US economy\u2063 could transition\u2063 quickly to recovery mode \u200din the second half of the \u200byear.\u2064 Wells Fargo Investment Institute predicts that the S&#038;P 500 will end next year between 4,600 and 4,800.<\/p>\n<p>Market expectations include a\u200d deceleration in inflation, with a greater than 50% chance\u2064 of a rate cut of \u200cat \u200dleast 25 basis points by May,\u200b according\u200c to CME&#8217;s \u2062FedWatch Tool\u200b on Monday. Goldman Sachs&#8217;s \u200deconomic team, on \u2063the other \u2063hand, predicts that the Fed\u2063 will hold \u200doff on \u2062rate cuts until the fourth \u2063quarter \u2062of next year, as \u2063stronger-than-expected\u200d economic growth may prevent a recession.<\/p>\n<p>Strategists also identified geopolitical\u200b problems, such as \u2062the conflict between Israel and Hamas militants in Gaza, as \u200dadditional risks to the market in 2024.<\/p>\n<p>Regarding the US corporate profit outlook, ten out of 13 strategists expect earnings to grow in\u2064 the next six months. Overall S&#038;P\u2064 500 earnings growth for \u20642023 is estimated at 2.3% after a \u200dweak first half of the year. Analysts anticipate a rise of 11.2% \u2063in earnings for 2024\u2064 compared to the\u200b previous year.<\/p>\n<p>Although\u2064 recent market gains have led to increased valuations, with the S&#038;P 500 index&#8217;s forward 12-month price-to-earnings ratio currently \u2063at\u200b 19.1,\u2064 the technology sector\u2062 remains a favorite going into 2024. It has already risen by 52%\u2062 this year.<\/p>\n<p>Tim Ghriskey, \u2063senior portfolio strategist at \u200dIngalls &#038; Snyder in\u2062 New York, stated that &#8220;the technology revolution continues.&#8221;<\/p>\n<p>The poll also predicts that the Dow Jones industrial average will reach \u200c38,000 by the end of next year, representing\u200b an 8% increase from Monday&#8217;s close. The Dow has risen by\u2064 6% so far in 2023.<\/p>\n<p>In conclusion, strategists foresee a modest increase in the S&#038;P 500 next year, with concerns\u2062 about a potential economic slowdown or recession. \u200dThe market also faces risks from geopolitical issues. Despite increased valuations, the technology \u2062sector is expected to perform well in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1:06 PM UTC \u2013 November 21, 2023 NEW YORK (Reuters) \u2013 The S&amp;P 500 will end next year only about 3% higher than its current level, with a possible U.S. economic slowdown or recession among the biggest risks for the market in 2024, according to strategists in a Reuters poll released Tuesday. Advertisement The benchmark<\/p>\n","protected":false},"author":1911,"featured_media":2104696,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2104695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2104695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2104695"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2104695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2104696"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2104695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2104695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2104695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}