Mon Dec 30 14:50:00 UTC 2024: ## S&P 500 Defies Predictions, Poised for Stunning 25% 2024 Gain
**NEW YORK** – The S&P 500 is on track for a remarkable 25% surge in 2024, shattering Wall Street’s earlier predictions of modest growth, Bloomberg reports. This unprecedented performance marks the strongest consecutive annual gains since the late 1990s dot-com bubble.
Just a year ago, market analysts expressed skepticism about the sustainability of the rally, believing the pace was unsustainable. Leading firms like Bank of America, Deutsche Bank, and Goldman Sachs initially projected only marginal growth for the S&P 500 in 2024. Their forecasts, disseminated via the Bloomberg Terminal, largely anticipated a slowdown following the AI-driven tech boom and the continued resilience of the economy despite recessionary fears. Furthermore, with the Federal Reserve cutting interest rates, many analysts expected a shift in investor preference towards Treasury bonds.
However, the market has defied these predictions, continuing its upward trajectory. The unexpected strength underscores the resilience of the US stock market and the impact of unforeseen factors such as the continued strength of the AI sector.
First Piper 