Tag: Wall Street

[ad_1] This year’s broader market rally isn’t over just yet, according to Citi. “We look for further S & P 500 upside in the year ahead. However, investors need to be prepared for changing conditions as 2024 unfolds,” market strategist Scott Chronert wrote in a Friday note. “Following the strong Q4 2023 rally, pullbacks should be expected, and bought into, as a shifting Fed narrative unfolds.” Citi set a year-end target of 5,100 for the S & P 500, dependent on a $245 earnings per share estimate for the index. Looking ahead, however, the firm lowered its mid-2024 target to ... Read more

[ad_1] The last Federal Reserve meeting of 2023 is on deck in the week ahead, and investors will be keen to look for signals on when the central bank may start to cut interest rates, as stocks try to finish the year off on a high note. Fed Chair Powell is widely anticipated to keep the key fed funds rate steady in the 5.25%-5.5% range, where it’s been since July, at the conclusion of its December policy meeting next Wednesday. The central bank has already held the benchmark rate steady for the last two consecutive meetings. But investors are awaiting ... Read more