Why 2024 will be a ‘surprisingly good year’ for stocks: CFRA’s Chief Strategist
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CFRA’s Chief Investment Strategist Sam Stovall joined Yahoo Finance Live to share his optimistic 2024 market outlook, stating “next year will be a surprisingly good year.” He notes multiple supportive factors, including 2024 being an election year with consistently positive historical returns. While overbought conditions near-term could spur pullbacks, Stovall sees no real fear of a bear market now. He expects any dips to follow “a continued advance”, rather than precede declines. Stovall also observes that an anticipated Fed pause on hikes could lift valuations across assets – “lifting all boats” in size, style, sector and industry. During past Fed reprieves, areas like financials and real estate tended to outperform. […]