What’s Expected in 2024? | Chief Investment Officer

Art by Alex Eben Meyer

After stocks were stronger than expected in 2023, a majority of Wall Street firms are predicting continued strength in 2024. But the U.S. presidential election and ongoing wars in the Middle East and Eastern Europe, along with market stressors in commercial real estate and maturing corporate debt, raise questions about where the year’s trends point.

Below find CIO’s review of the forecasts for several important data points to show what they expect for stocks, bonds and the U.S. economy.

Wall Street's 2024 U.S. Forecasts: GDP

Bank of America

1.4%

Citigroup

1.1%

Goldman Sachs

2.1%

JP Morgan

1.6%

Morgan Stanley

1.9%

Source: Reuters

Wall Street's 2024 U.S. Forecasts: Inflation

Personal Consumption Expenditures Price Index

Bank of America

2.8%

Citigroup

2.6%

Goldman Sachs

2.4%

JP Morgan

2.5%

Morgan Stanley

2.1%

Source: Reuters

Wall Street's 2024 U.S. Forecasts: Federal Funds Rate

Bank of America

n/a

Citigroup

n/a

Goldman Sachs

2.5%

JP Morgan

2.5%

Morgan Stanley

2.1%

Source: Reuters

Wall Street's 2024 U.S. Forecasts: 10-Year Treasury

Bank of America

4.3%

Citigroup

4.3%

Goldman Sachs

4.6%

JP Morgan

3.8%

Morgan Stanley

n/a

Source: Reuters

Wall Street's 2024 U.S. Forecasts: The Standard and Poor's 500

Bank of America

n/a

Citigroup

5000

Goldman Sachs

5100

JP Morgan

5100

Morgan Stanley

4200

Source: Reuters