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”
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Graphic via Bloomberg:
This article was written by Eamonn Sheridan at www.forexlive.com. Source