Daily Management Review

BofA raises end of 2024 forecast for S&P 500 to 5,400 points


Analysts at Bank of America raised their prediction for the US market index S&P 500 at the end of 2024 from 5,000 points to 5,400 points.

pixabay.com via Picryl.com
pixabay.com via Picryl.com
Analysts do not completely rule out the chance of a brief downturn in the stock market, despite the optimism. The experts claims that since 1929, there have been three average 5% market pullbacks and one 10% correction every year, according to MarketWatch.

The S&P 500 had a value of 5137.08 points at Friday's market finish. As a result, the updated BofA prediction calls for an increase in the indicator of more than 5% by year's end.

The S&P 500 grew by 7.7% since the start of 2024, the Nasdaq Composite has increased by 8.4%, and the Dow Jones Industrial Average has increased by 3.7%.

source: marketwatch.com