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Goldman Sachs forecasts the S&P 500 P/E to remain at 14x by year-end 2024, ranking in the 65th percentile since 1976, while the aggregate S&P 500 P/E of 18x will rank in the 83rd percentile. The S&P 500 is set to outperform the Russell 2000 by the widest margin since 1998. HSBC raises its 2024 China GDP growth forecast to 4.9% from 4.6%. Goldman Sachs expects real GDP to grow 1.8% in 2024, beating low consensus expectations. B of A forecasts a soft landing in the US and global economy, lower inflation, easier monetary policy, higher oil prices, and modest decline in bond yields. Goldman Sachs predicts the S&P 500 index to post a 6% total return in 2024, slightly below the typical return during presidential election years. The S&P 500 is under 2% from its year-to-date highs, while the equal weight S&P 500 is 6% off. The S&P, Dow, and Nasdaq are all up.
The S&P 500 is under 2% from its YTD highs The equal weight S&P 500 is 6% off https://t.co/6gpAaxmWDG
tfw S&P, Dow, and Nasdaq are all up https://t.co/8werMInMGb
"Our baseline expectation that the aggregate S&P 500 index will post a 6% total return in 2024 is slightly below the typical return during presidential election years." - Goldman Sachs https://t.co/NvPNQ4lei8
B of A: “.. 2024 Forecasts: .. soft landing in US & global economy, lower inflation, easier monetary policy, higher oil prices, lower US dollar, modest decline in bond yields, modest but broader upside in global equities.” [Hartnett] $SPX https://t.co/04JKRZC46R
"We expect real GDP to grow 1.8% in 2024 on a Q4/Q4 basis (or 2.1% on a full-year basis), once again easily beating low consensus expectations." - Goldman Sachs https://t.co/6b5hGQFRIU
🔴 HSBC RAISES 2024 CHINA GDP GROWTH FORECAST TO 4.9% FROM 4.6%.
The S&P is poised to outperform the Russell 2000 by the widest margin since 1998. https://t.co/QY4D1yACKl https://t.co/AK1oi1ZHgv
The S&P 500 is on track to outperform the Russell 2000 by the widest margin since **1998** https://t.co/KXCOcbWK1v https://t.co/O7W8QlDU08
"Our baseline macro forecasts point to a roughly unchanged equal-weight S&P 500 P/E of 14x at year-end 2024 that would rank in the 65th percentile since 1976. In contrast, the aggregate S&P 500 P/E of 18x will rank in the 83rd percentile versus history." - Goldman Sachs https://t.co/WlPcOnIWfB