Fundstrat's Tom Lee projects the benchmark index will end 2024 at 5,200 as inflation keeps subsiding and the US economy skirts recession.
Wall Street is increasingly bullish on the market outlook (^GSPC, ^DJI, ^IXIC) in 2024. Saxo Senior Fixed Income Strategist Althea Spinozzi and Roundhill Investments Chief Strategy Officer David Mazza join Yahoo Finance Live to discuss what 2024 may hold in store for the Fed's interest rate policy and how markets are already pricing in expected interest rate cuts. "Realistically, we believe that inflation is going to have lesser importance than growth throughout 2024. But central banks are going to be cautious about that," Spinozzi says. "So, right now, the market is pricing in five interest rate cuts by the end of 2024. We believe that that is ahead of itself." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The Nasdaq surged on Thursday, with Alphabet and Advanced Micro Devices sparking a megacap rally on fresh optimism about artificial intelligence. Shares of Alphabet jumped over 5% as analysts cheered the launch of the Google-parent's newest AI model, while AMD soared more than 9% after the company estimated the potential market for its data center AI chips could reach $45 billion this year.