JPMorgan's Marko Kolanovic predicts a 23% drop in the S&P 500, cautious outlook.

From Yahoo Finance: 2024-06-17 23:57:00

JPMorgan’s Marko Kolanovic predicts a 23% drop in the S&P 500 by end of 2024, offering a cautious outlook despite recent market highs. He sees a price target of 4,200, the lowest on Wall Street, with subpar earnings growth as a key factor. Kolanovic believes tech must drive economic growth significantly for stocks to avoid a major correction, but remains skeptical. Other strategists have become more bullish, with targets like 6,000 from Evercore ISI and 5,400 from Morgan Stanley CIO Mike Wilson, reflecting a shift in market sentiment.

Source: Business Insider



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