Bank of America strategist predicts S&P 500 to 5000 in 2024, but concerns in the shadows

<p>Bank of America’s head of U.S. equity and quantitative strategy Savita Subramanian spoke on Tuesday with CNBC. Analysts at the firm have a 5000 target for the S&amp;P 500 by the end of 2024, saying the market has handled Fed rate hikes well. </p><ul><li>“There’s a high probability of pullbacks next year around various areas of concern, but I do think that we’re in a healthier market setup than we have been in a long time,” </li><li>

“The higher interest rates are gonna hit a lot of pockets of the economy, not necessarily public equities, because public equities have been marked for this environment … public equity right now is marked to exactly what’s happened, and that is a high interest rate environment.”</li></ul><p>However, the picture is not without worries:</p><ul><li>“What I worry more about is all the stuff sloshing around in private equity, private credit, the shadow lending machine that’s been taking place for the last 10-15 years.”</li></ul><p>Federal Reserve Chair Powell </p>

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