As the end of the year and the decade approaches, Wall Street strategists have been delivering their expectations about where the stock market will close out 2020.
The next year will bring with it myriad market-moving events, including the 2020 presidential elections and next phases in U.S.-China trade relations. Market pundits across Wall Street have each delivered their ideas for how these and other catalysts will shape equity markets in 2020.
Their theses come as stocks have flirted with fresh record highs time and again in the fourth quarter of 2019, as global growth concerns receded from a fever pitch earlier this year. As of mid-November, the S&P 500 was up more than 23% for the year-to-date.
Here’s a summary of what some of Wall Street’s top strategists are telling their clients for next year, updated as new 2020 views become available.
Wells Fargo (Target: 3,388; EPS: $166) – Recession risks in the rearview mirror, but a correction could be coming
Over the past couple months, strategists’ expectations for a
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