RTX - The Fed Put Is Back: Why Stocks Likely Are Heading Higher
2024-01-29 14:37:04 ET
Summary
- The S&P 500 Index has surged by 20% in the last three months due to the Fed's pivot towards a more accessible monetary stance, and other constructive factors.
- Near-term gains have been stellar, but a pullback/consolidation phase may be imminent.
- Despite potential for short-term volatility, 2024 should be a solid year, in my view, possibly leading to an S&P 500 level of 5,500 by year-end.
The S&P 500 ( SP500 , SPX ) has appreciated considerably recently. The SPX has surged by 20% since the correction bottom three months ago. So, what's causing stocks to skyrocket? It's the Fed and its pivot toward a more accessible monetary stance. The "Fed put" is back on the table, and stock prices have plenty of room to appreciate in the intermediate and long term. ...
The Fed Put Is Back: Why Stocks Likely Are Heading Higher