S&P 500 WILL END 2024 AROUND CURRENT LEVELS AFTER STRONG RUN
The Standard & Poor's 500 will end the year near current levels, but strong stock market gains so far in 2024 have some strategists saying the index is at risk of a correction in coming months. By year-end, the benchmark index will be at 5,302, according to the median forecast of 50 strategists polled May 13-22. That is slightly below Tuesday's close of 5,321.41.
That latest prediction is still above the 5,100 year-end level forecast in a Reuters poll in February. The S&P 500 has gained over 11% so far this year and all three major U.S. stock indexes have risen to records recently, thanks in part to economic data that has eased inflation concerns, fuelling bets that the Federal Reserve will start cutting interest rates later in the year. The poll has the Dow Jones industrial average finishing this year at 40,765 after the index crossed the 40,000 level for the first time last week and closed Tuesday at 39,872.99.
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