DB - Wall Street Braces For 2024 Recession: Economic Growth To Slow Markets To Rise Say Bullish Firms | Benzinga
Two of the most optimistic investment firms, BMO Capital Markets and Deutsche Bank (NYSE: DB), are forecasting a recession in the U.S. economy despite the consensus of continued growth and solid stock gains.
What Happened: The firms predict a downturn in economic growth by the end of 2024, yet they also anticipate a 12% rise in the S&P 500 to 5,100. This growth is expected to be driven by earnings rather than rate cuts.
"Rates don't peak for good reasons — they peak for sad reasons for equity investors," said Chris Grisanti, the chief equity strategist at MAI Capital Management, in a conversation with ...