Page 6 - Nalyst Note News Today

"One day the economy will go into recession, but it won't be because of repeated warnings from the LEI," Ned Davis Research said.

The S&P 500 is less than 2% away from hitting a new all-time high, so 2024 could be another year of double-digit returns if a record is reached.

Nvidia's expected generation of $100 billion in free cash flow "is just the cherry on top of what is a very delicious cake," an analyst at BofA said.

The stock market has historically delivered strong returns during the fourth year of a presidential cycle, but the gains are choppy.

"Our mantra during carefree times like now is: 'We have nothing to fear but nothing to fear,'" market veteran Ed Yardeni said.

Goldman previously had expected the 30-year mortgage rate to be at 7.1% by the end of 2024 and at 6.6% by the end of 2025.

"Passive + reinvested dividends = mega-cap growth bubble," Bank of America's Savita Subramanian told clients last week.

"In the current context, we could see S&P 500 4,400 to 4,500 once we make all-time highs, or a modest pullback," Fundstrat's Tom Lee warned.

Recent channel checks with AI customers have turned incrementally more bullish and bode well for Microsoft's ability to monetize CoPilot in 2024.

A year ago, Fundstrat's Tom Lee said the S&P 500 would end 2023 at 4,750, which is within 1% of its current level.