SocGen: S&P 500 to flirt with record high in bumpy 2024 ride

SocGen’s forecast resembles others on Wall Street, which see clarity around the outlook for US growth next year buoying stocks – but not before more volatility. — Reuters

NEW YORK: The S&P 500 Index is set to rise toward its all-time high early next year, pullback mid-year and then rally back toward the highs, according to strategists at Societe Generale SA.

A team led by Manish Kabra sees the benchmark for US equities jumping toward 4,750 in the first quarter and then dropping to 4,200 mid-year as a mild recession ensues.