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Why it is hard to forecast the market for 2024
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Wall Street strategists like to issue forecasts for stock markets, but they usually get it wrong.
PHOTO: AFP
Jeff Sommer
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Wall Street strategists are issuing forecasts for the stock market’s performance in 2024. Pay them no mind as the predictions are usually wrong, and when they’re right, it’s only by accident.
Consider their prophecies for 2023. At the end of 2022, strategists predicted that the S&P 500 would end 2023 at 4,078, a gain of 6.2 per cent from where it started, according to data from Bloomberg.
