KB - Fundstrat's Tom Lee Predicts 30% Surge In Stock Market In 2024 Amid Expectations Of Fed Rate Cut And Sharp Decline in Inflation | Benzinga
Fundstrat’s Tom Lee suggests a potential 30% surge for the S&P 500 next year, anticipating a decline in inflation and a possible interest rate cut by the Fed.
What Happened: Lee, a renowned bullish strategist, anticipates the S&P 500 to touch 5,200 by the close of the year, indicating a 9% increase from the present level, reported Business Insider.
Lee’s predictions hinge on the expected Fed rate cuts and a significant drop in inflation. He believes these factors will provide the necessary conditions for stock prices to skyrocket in 2024.
“The rate of price increases is slowing,” Lee commented in a recent CNBC interview, signaling that inflation could fall to 2%, a “very visible” possibility for 2024.
He also suggested a more than 50% likelihood of the S&P 500 achieving double-digit gains in 2024 despite similar gains last year. This prediction is based on a century-long trend between stocks and Treasury ...