Yahoo Finance published this video item, entitled “Stocks: We are forecasting 5,000 on the S&P 500 for next year with a soft landing’: BOFA strategist” – below is their description.
It has been the debate of 2023: Will there be a hard landing for the US economy? A soft landing? No landing? Bank of America says that in 2024, we’ll see a soft landing. The bank’s strategists say 2024 will be the “the year of the landing,” with a bullish price target of 5,000 for the S&P 500 (^GSPC). Bank of America US & Canada Equity Strategist Ohsung Kwon joins Yahoo Finance Live to break down the call.
Kwon elaborates on how their strategists made their call: “We believe that earnings can continue to accelerate despite GDP potentially slowing down, and if that’s the case, that actually has been the best environment for equities. When GDP is slowing down and EPS is accelerating, that doesn’t happen very often but that’s our base case actually. And if it does happen next year that sets up very well for equities.”
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