Citi expects the S&P 500 (^GSPC) to reach a 5,100 year-end point target for 2024, just one of many bullish forecasts for next year issued by strategists.
Citi US Equity Strategist Drew Pettit joins Yahoo Finance Live to break down the relationship between the US economy and earnings growth heading forward into the new year.
“The S&P isn’t the economy,” Pettit says, adding: “but we’re getting a lot of productivity gains, which helps push earnings higher even if we have a macro slowdown. This is definitely something that is more concentrated in the S&P compared to what we have seen in more cyclical sectors or even when we move down into small cap.”
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
