Wall Street bull warns of pause in rally but sees S&P 500 grinding higher in 2024
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U.S. stocks are expected to take a break in early 2024, as data-dependent trading becomes the norm. The S&P 500 jumped 11.2% in the fourth quarter of 2023, with a 24.2% yearly gain. Earnings season will be a key market catalyst this month, starting with U.S. banks. Despite a potential pause, analysts at Oppenheimer believe the S&P 500 will hit their target of 5,200 by the end of 2024. They remain bullish on equities and expect U.S. corporate revenues and earnings to continue growing throughout the year. On Tuesday, U.S. stocks finished mostly lower, with the S&P 500 down 0.6%.
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