(CercleFinance.com) – An S&P 500 index at 5,000 points is among the main forecasts for 2024 from CFI, an Emirati broker, alongside a return to 2% of inflation in the United States and new access dollar weakness.
While it recognizes that the American stock market will have to face a high degree of uncertainty next year with the holding of the presidential election, the Dubai-based broker says it expects the recording of ‘new records’ on Wall Street.
CFI justifies its optimism by the decline in prices, the good health of the economy and the 13.6% rebound expected in the results of companies belonging to the S&P 500 index in 2024.
His forecasts also include a decline in the greenback as well as a recovery in the barrel of American light crude (WTI) which, according to him, should return to the threshold of 88 dollars.
With the American election, CFI says it expects a renewed geopolitical tension between the United States and China, particularly around issues related to technology.
‘Despite the historic visit of the Chinese president to the United States this year, no progress has been made towards resolving this climate of hostility,’ underlines the broker.
CFI, which also predicts a return of the ounce of gold to 1800 dollars and a continuation of the electrification movement in the automobile, recalls that ‘when (he) predicts something, (he) wants his projections to be as sensible and as close to reality as possible.
Its objective of an S&P 500 at 5,000 points therefore corresponds to an increase of around 4.5% next year.
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