, Columnist
S&P 500 Forecasts: Crystal Ball or Magic 8?
They are woefully unreliable in predicting turning points.
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It’s time again for Wall Street strategists to answer investors’ favorite question: What’s in store for the S&P 500 next year? (Never mind that U.S. large-cap stocks represent only a portion of most investors’ portfolios.)
Good news, investors. As Bloomberg’s Lu Wang noted this week, every strategist surveyed by Bloomberg is predicting that the S&P 500 will be higher next year. The average forecast is 2,356, which would be a 4.2 percent increase over the index’s current price.