As Mark Twain warned us: “Prediction is difficult – particularly when it involves the future.” I typically avoid making forecasts, especially as they relate to the financial markets, for two reasons: 1) I am liable to be wrong; and 2) forecasts don’t matter much in the first place.
Nonetheless, a lot of our clients want to know what we think 2024 will bring, and we find ourselves in reasonable agreement with our Raymond James strategists, who believe:
A slowdown in consumer spending will trigger a recession this year, but possibly the mildest recession in U.S. history.
Interest rates have peaked – and the Fed will lower them 3-4 times before the end of the year.
Corporate earnings will grow at just 2% in 2024 and stocks will be up modestly, led by the technology and healthcare sectors.
Market volatility will increase as November’s presidential election approaches.
Remember, financial success doesn’t require accurately predicting the future, but planning for it. We hope Wealth and Wisdom helps you do exactly that in the uncertain year that awaits us.
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Words to the Wise
“Any man who is a bear on the future of this country will go broke.”
– J.P. Morgan
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