Reported 27 days ago
Many Wall Street investors predict that the S&P 500 could hit 6,000 by the end of 2024, but this forecast is threatened by upcoming elections and Federal Reserve interest rate strategies. CFRA's chief investment strategist, Sam Stovall, suggests the S&P usually gains about 3% during the last two months of an election year, driven by market enthusiasm. However, he warns that the Fed's interest rate decisions will play a crucial role, explaining that markets tend to react more positively to anticipated rate cuts than to actual cuts, indicating that the Fed may choose to hold off on cuts despite earlier expectations.
Source: YAHOO