Citi expects S&P 500 to new heights in 2024
<p><br></p><p>Citi expects the S&P 500 to make new highs in 2024:</p><ul><li>earnings growth is expected to broaden</li><li>S&P 500 companies reporting positive year-over-year earnings growth is expected to increase</li><li>fewer stocks likely to experience significant EPS declines compared to both 2023 and the 5-year average pre-pandemic</li><li>
<em>“We continue to focus on the earnings resilience thesis despite lingering concerns about the economic outlook, which have been more acute of late given some softness in consumer-related reports and commentary”</em></li><li><em>
“the bottom falling out of S&P 500 EPS is a tail risk. A more resilient fundamental
backdrop should support a higher equity floor even if sentiment and multiples sour”</em>
</li></ul><p>
Macroeconomic concerns are expected to persist:</p><ul><li>particularly around the consumer in the near term</li><li>fiscal impulses in the longer term</li></ul><p>Says the primary risk to equity markets lies in the multiple investors will assign to EPS, rather than the fundamentals themselves, particularly in the event of a clear recession.
</p><p>Info via <a href="https://www.streetinsider.com/Analyst+Comments/Citi+sees+broadening+earnings+growth+providing+a+boost+for+S%26P+500/22453933.html" target="_blank" rel="nofollow">Street Insider, gated.</a> </p><p><br></p><p><br></p><p><br></p><figure data-media-><img src="https://images.forexlive.com/images/s%26p%20500%20weekly%2028%20November%202023_id_d60e01c8-f00a-425e-98cf-c759bbf1701d_size900.jpg" alt="s&p 500 weekly 28 November 2023" width="1072" height="737" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/s%26p%20500%20weekly%2028%20November%202023_id_d60e01c8-f00a-425e-98cf-c759bbf1701d_size900.jpg" /></figure><p><br></p><p><br></p><p><br></p>
This article was written by Eamonn Sheridan at www.forexlive.com.
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