A 10% Rally in S&P 500 Makes Geniuses of Wall Street Strategists
- Posts sixth annual gain in eight years as bull market endures
- Wall Street forecasters have the most accurate year on record
Barty: Markets Need Earnings to Fuel Growth in 2017
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They didn’t exactly nail every detail. But U.S. equity strategists got one thing right about 2016: where the S&P 500 Index would end up.
In fact, their accuracy in predicting the annual gain of 9.5 percent is unprecedented in Bloomberg data going back to 2000. At 2,216 last December, the mean Wall Street prediction ended up being 1 percent too low, as the benchmark gauge traveled 195 points in 12 months to close at 2,238.83.