A snippet from JP Morgan's chief global equity strategist, forecasting the US S&P 500 Index to drop to 4,200 by the end of 2024.
Citing:
- Absent rapid Fed easing, we expect a more challenging macro backdrop for stocks next year
- softening consumer trends
- at a time when investor positioning and sentiment have mostly reversed
The 4200 target for the end of next year places JPM close to being the most pessimistic of Wall Street analysts.
