S&P 500 projected to reach historic 5,100 by late 2024, says Deutsche Bank strategist

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S&P 500 projected to reach historic 5,100 by late 2024, says Deutsche Bank strategist

Strategists at Deutsche Bank (ETR: DBKGn ), have provided a bullish outlook for the S&P 500 , forecasting the index to soar to a record high of 5,100 by the end of 2024. The prediction is hinged on the expectation of diminishing inflation and a surge in corporate earnings, which could see an increase of up to 19% if the GDP grows by 2%. This anticipated growth comes even as mild recessionary pressures are expected to cause temporary market volatility.

Deutsche Bank's forecast aligns with the optimistic projections from other major financial institutions. Wall Street firms like RBC Capital Markets and Bank of America (NYSE: BAC ) have also predicted the S&P 500 to surpass its previous peak of 4,796.56 reached in January 2022. 

The team's analysis suggests that the combination of a cooling inflation environment and a rebound in corporate profitability will be the key drivers for the stock market's ascent. This outlook provides a silver lining for investors who have been navigating through a period of economic uncertainty marked by inflationary concerns and geopolitical tensions.

Investors and market participants will be closely monitoring the economic indicators and corporate earnings reports in the coming months to gauge the likelihood of this bullish scenario unfolding as predicted by Deutsche Bank's strategist.

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