Nov 27 (Reuters) – Deutsche Bank said on Monday it expects the S&P 500 to end next year up 12% as corporate earnings growth should remain resilient even amid a mild and short-lived U.S. recession.
Deutsche Bank strategists expect the index to end 2024 at 5,100. The S&P 500 is up nearly 19% so far this year.
Deutsche Bank expects earnings for the S&P 500 index to rise 10% in a shallow, short-lived recession.
With US GDP growing 2% in 2024, earnings for the companies included in the index are expected to increase by 19%.
Deutsche Bank’s 2024 forecast for the S&P 500 is 8.5% higher than the 4,700 median forecast of 33 strategists surveyed by Reuters.
“If earnings growth continues to recover as we expect, stock prices will continue to have good support near the top end of the range that valuations typically see when earnings growth recovers,” the strategists added.
Original post in English available via code (Roshan Abraham in Bangalore)
2023-11-27 11:56:53
#Deutsche #Bank #expects #growth
