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

<p>RBC Capital Markets forecasts a record high for the&nbsp;S&amp;P 500 in 2024, citing:</p><ul><li>sentiment is constructive for now</li><li>valuations can stay higher than many investors realise</li><li>declining inflation should act as a tailwind for price to earnings multiples</li><li>labour market resilience indicates economy should avoid recession</li><li>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&nbsp;</li></ul><p>Caveats noted:</p><ul><li>the US presidential election will be a source of uncertainty</li><li>a slower economy expected in 2024 through 2025 is the biggest headwind to equity market performance</li></ul><p><br></p><figure data-media-><img src="https://images.forexlive.com/images/spx%20rbc%20target%205000%20in%202024_id_64c5f9a4-a91c-4475-8b50-91777aef926c_size900.jpg" alt="spx rbc target 5000 in 2024" width="1080" height="732" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/spx%20rbc%20target%205000%20in%202024_id_64c5f9a4-a91c-4475-8b50-91777aef926c_size900.jpg" /></figure><p><br></p><p><br></p><p><br></p>

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