More on JP Morgan’s bear S&P 500 forecast: Global growth deceleration, policy volatility

I posted yesterday on JPM’s bearish forecast for the US benchmark s&P 500:

JP Morgan predicts S&P 500 drop to 4,200 by end-2024

A little more on this, via a Bloomberg report:

  • JPM has the gloomiest forecast so far among its peers

JPM citing:

  • global growth decelerates
  • household savings shrink
  • geopolitical risks remain high
  • national elections including those in the US that could add to policy volatility
  • “Absent rapid Fed easing, we expect a more challenging macro backdrop for stocks next year with softening consumer trends at a time when investor positioning and sentiment have mostly reversed”

Graphic via Bloomberg:

This article was written by Eamonn Sheridan at Source