As the calendar flips to 2024, investors are eager to know what the future holds for the S&P 500. In November 2023, we polled top analysts on Seeking Alpha to get their expert insights on the market’s trajectory. We asked them to predict the S&P’s closing value on December 31, 2024, backing their forecasts with compelling arguments.
Before the year began, the general consensus pointed to a modest 4% increase (based on median estimates) and a mere 0.1% gain (based on mean estimates). However, the S&P’s performance has defied these expectations, surging by approximately 20% so far this year. The ride has been far from smooth, with August witnessing significant turbulence.
As of September 30, 2024, when the S&P stood at 5,762, the analysts who came closest to predicting the year-end value are:
1. Kirk Spano, who forecast a year-end value of 5,720
2. Lance Brofman, who predicted a year-end value of 5,878
3. Toma Hentea, who estimated a year-end value of 5,625
We’ll be providing a final update in the new year, and the top three analysts with the most accurate predictions will receive cash prizes:
* First place: $1,500
* Second place: $1,000
* Third place: $500
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