{"id":27849,"date":"2024-07-04T12:27:35","date_gmt":"2024-07-04T10:27:35","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=27849"},"modified":"2024-07-04T12:27:35","modified_gmt":"2024-07-04T10:27:35","slug":"ausblick-24-dissens-an-der-wall-street","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/","title":{"rendered":"Ausblick 24: Dissens an der Wall Street"},"content":{"rendered":"

\"\"<\/p>\n

04.01.2024 \u2013 <\/strong>Bei den Top-Adressen am US-Finanzmarkt gehen die Prognosen f\u00fcr das kommende Aktienjahr weit auseinander. Wir beleuchten die Hintergr\u00fcnde.<\/strong><\/p>\n

Beim S&P 500 scheiden sich die Geister. Wir meinen: Nach der fulminanten Jahresend-Rallye w\u00e4re wohl erst einmal Kassemachen angesagt. Hier der Wochenchart.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

We will probably see some revisions to forecasts in the coming weeks. This is because some outlooks were delivered before the recent Santa rally.<\/p>\n

Goldman and Citi: 5,100<\/strong>
\nLet’s start with Goldman Sachs. The upmarket address on Wall Street recently raised its target for the SPX at the end of 2024 once again – by a whopping 9 per cent from 4,700 in the previous forecast to 5,100 points.
\nThe reason for the adjustment is the Federal Reserve’s new, dovish tone at the latest meeting and a slowdown in inflation. „Decelerating inflation and Fed easing will keep real yields low and support a price-to-earnings multiple greater than 19x,“ said David Kostin, Chief US Equity Strategist. He pointed out that inflation is cooling rapidly and is approaching the Fed’s target of 2 per cent. This means that the central bank will cut interest rates much sooner than investors had previously expected. For similar reasons, Citibank also sees the SPX facing a big year for equities – with a year-end 2024 level of 5100 points as well.<\/p>\n

JP Morgan: 4,200<\/strong>
\nJP Morgan is far more cautious: the investment bank only sees a price target of 4,200 for the S&P 500 and a „downside bias“. The analysts are by no means expecting rapid easing by the Fed. Moreover, global growth is slow, which is overshadowing the outlook for equities. There is only a moderate risk of recession for the global economy. Nevertheless, inflation will remain stubbornly above the central banks‘ comfort zones. Current market expectations of an economic upturn in the industrialised countries are therefore likely to be disappointed. Weak growth and geopolitical risks are therefore weighing on equities.<\/p>\n

Morgan Stanley: 4,500<\/strong>
\nMorgan Stanley is also among the pessimists – its target price for the SPX next December is 4,500 points. This is because Europe and the emerging markets could disappoint investors. In the USA, however, a moderate recovery in profits is set to begin. Specifically, it said: „For December 2024, we forecast a 17.0x P\/E multiple on 12-month forward EPS (2025) of $266, which equates to a 4,500 price target ~12 months from today. Our 2024 earnings forecast of $229 (+7%Y) assumes 4-5%Y topline growth in addition to modest margin expansion as labour cost pressures ease.“ It went on to say that the current market valuation leaves no room for error – many investors have high expectations with regard to inflation, the labour market and corporate margins.
\nWe are excited to see how the stock market develops – we wish you successful trades and investments!<\/p>\n

___________________________________________________________________________________________________________________________________<\/p>\n

Wichtige Hinweise:<\/p>\n

Der Inhalt dieser Publikation dient ausschlie\u00dflich allgemeinen Informationszwecken. Es handelt sich in diesem Kontext weder um eine individuelle Anlageempfehlung oder -beratung, noch um ein Angebot zum Erwerb oder der Ver\u00e4u\u00dferung von Wertpapieren oder anderen Finanzprodukten. Der betreffende Inhalt sowie s\u00e4mtliche enthaltenen Informationen ersetzen in keiner Weise eine individuelle anleger- bzw. anlagegerechte Beratung. Jegliche Darstellungen oder Angaben zu gegenwertigen oder vergangenen Wertentwicklungen der betreffenden Basiswerte erlauben keine verl\u00e4ssliche Prognose oder Indikation f\u00fcr die Zukunft. S\u00e4mtliche aufgef\u00fchrte Informationen und Daten dieser Publikation basieren auf zuverl\u00e4ssigen Quellen. Die Bernstein Bank \u00fcbernimmt jedoch keine Gew\u00e4hr bez\u00fcglich der Aktualit\u00e4t, Korrektheit und Vollst\u00e4ndigkeit der in dieser Ver\u00f6ffentlichung aufgef\u00fchrten Informationen und Daten. An den Finanzm\u00e4rkten gehandelte Wertpapiere unterliegen Kursschwankungen. Ein Contract for Difference (CFD) stellt dar\u00fcber hinaus ein Finanzinstrument mit Hebelwirkung dar. Der CFD-Handel beinhaltet vor diesem Hintergrund ein hohes Risiko bis zum Totalverlust und ist damit unter Umst\u00e4nden nicht f\u00fcr jeden Anleger geeignet. Stellen Sie deshalb sicher, dass Sie alle korrelierenden Risiken vollst\u00e4ndig verstanden haben. Lassen Sie sich gegebenenfalls von unabh\u00e4ngiger Seite beraten. CFDs sind komplexe Instrumente und gehen wegen der Hebelwirkung mit dem hohen Risiko einher, schnell Geld zu verlieren. 68% der Kleinanlegerkonten verlieren Geld beim CFD-Handel mit diesem Anbieter. Sie sollten \u00fcberlegen, ob Sie verstehen, wie CFD funktionieren, und ob Sie es sich leisten k\u00f6nnen, das hohe Risiko einzugehen, Ihr Geld zu verlieren.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

04.01.2024 \u2013 Bei den Top-Adressen am US-Finanzmarkt gehen die Prognosen f\u00fcr das kommende Aktienjahr weit auseinander. Wir beleuchten die Hintergr\u00fcnde. Beim S&P 500 scheiden sich die Geister. Wir meinen: Nach…<\/p>\n","protected":false},"author":41,"featured_media":27852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nachrichten"],"yoast_head":"\nAusblick 24: Dissens an der Wall Street | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Forecasts for the coming equity year differ widely among the top names on the US financial market. We shed light on the background.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ausblick 24: Dissens an der Wall Street | Bernstein Bank\" \/>\n<meta property=\"og:description\" content=\"Forecasts for the coming equity year differ widely among the top names on the US financial market. We shed light on the background.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/\" \/>\n<meta property=\"og:site_name\" content=\"Bernstein Bank\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-04T10:27:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Bernstein Bank GmbH\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Verfasst von\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bernstein Bank GmbH\" \/>\n\t<meta name=\"twitter:label2\" content=\"Gesch\u00e4tzte Lesezeit\" \/>\n\t<meta name=\"twitter:data2\" content=\"5\u00a0Minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/\"},\"author\":{\"name\":\"Bernstein Bank GmbH\",\"@id\":\"https:\/\/bernstein-bank.com\/en\/#\/schema\/person\/557ba5e20117d1383d5e346506f1b0ea\"},\"headline\":\"Ausblick 24: Dissens an der Wall Street\",\"datePublished\":\"2024-07-04T10:27:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/\"},\"wordCount\":700,\"image\":{\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png\",\"articleSection\":[\"Nachrichten\"],\"inLanguage\":\"de\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/\",\"url\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/\",\"name\":\"Ausblick 24: Dissens an der Wall Street | Bernstein Bank\",\"isPartOf\":{\"@id\":\"https:\/\/bernstein-bank.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png\",\"datePublished\":\"2024-07-04T10:27:35+00:00\",\"author\":{\"@id\":\"https:\/\/bernstein-bank.com\/en\/#\/schema\/person\/557ba5e20117d1383d5e346506f1b0ea\"},\"description\":\"Forecasts for the coming equity year differ widely among the top names on the US financial market. We shed light on the background.\",\"breadcrumb\":{\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#breadcrumb\"},\"inLanguage\":\"de\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"de\",\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#primaryimage\",\"url\":\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png\",\"contentUrl\":\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png\",\"width\":1024,\"height\":1024},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/bernstein-bank.com\/de\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ausblick 24: Dissens an der Wall Street\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/bernstein-bank.com\/en\/#website\",\"url\":\"https:\/\/bernstein-bank.com\/en\/\",\"name\":\"Bernstein Bank\",\"description\":\"Bernstein Bank\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/bernstein-bank.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"de\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/bernstein-bank.com\/en\/#\/schema\/person\/557ba5e20117d1383d5e346506f1b0ea\",\"name\":\"Bernstein Bank GmbH\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ausblick 24: Dissens an der Wall Street | Bernstein Bank","description":"Forecasts for the coming equity year differ widely among the top names on the US financial market. We shed light on the background.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/","og_locale":"de_DE","og_type":"article","og_title":"Ausblick 24: Dissens an der Wall Street | Bernstein Bank","og_description":"Forecasts for the coming equity year differ widely among the top names on the US financial market. We shed light on the background.","og_url":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/","og_site_name":"Bernstein Bank","article_published_time":"2024-07-04T10:27:35+00:00","og_image":[{"url":"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png","width":1024,"height":1024,"type":"image\/png"}],"author":"Bernstein Bank GmbH","twitter_card":"summary_large_image","twitter_misc":{"Verfasst von":"Bernstein Bank GmbH","Gesch\u00e4tzte Lesezeit":"5\u00a0Minuten"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#article","isPartOf":{"@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/"},"author":{"name":"Bernstein Bank GmbH","@id":"https:\/\/bernstein-bank.com\/en\/#\/schema\/person\/557ba5e20117d1383d5e346506f1b0ea"},"headline":"Ausblick 24: Dissens an der Wall Street","datePublished":"2024-07-04T10:27:35+00:00","mainEntityOfPage":{"@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/"},"wordCount":700,"image":{"@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#primaryimage"},"thumbnailUrl":"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png","articleSection":["Nachrichten"],"inLanguage":"de"},{"@type":"WebPage","@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/","url":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/","name":"Ausblick 24: Dissens an der Wall Street | Bernstein Bank","isPartOf":{"@id":"https:\/\/bernstein-bank.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#primaryimage"},"image":{"@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#primaryimage"},"thumbnailUrl":"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png","datePublished":"2024-07-04T10:27:35+00:00","author":{"@id":"https:\/\/bernstein-bank.com\/en\/#\/schema\/person\/557ba5e20117d1383d5e346506f1b0ea"},"description":"Forecasts for the coming equity year differ widely among the top names on the US financial market. We shed light on the background.","breadcrumb":{"@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#breadcrumb"},"inLanguage":"de","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/"]}]},{"@type":"ImageObject","inLanguage":"de","@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#primaryimage","url":"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png","contentUrl":"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2024\/01\/Outlook2024.png","width":1024,"height":1024},{"@type":"BreadcrumbList","@id":"https:\/\/bernstein-bank.com\/de\/ausblick-24-dissens-an-der-wall-street\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bernstein-bank.com\/de\/"},{"@type":"ListItem","position":2,"name":"Ausblick 24: Dissens an der Wall Street"}]},{"@type":"WebSite","@id":"https:\/\/bernstein-bank.com\/en\/#website","url":"https:\/\/bernstein-bank.com\/en\/","name":"Bernstein Bank","description":"Bernstein Bank","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bernstein-bank.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"de"},{"@type":"Person","@id":"https:\/\/bernstein-bank.com\/en\/#\/schema\/person\/557ba5e20117d1383d5e346506f1b0ea","name":"Bernstein Bank GmbH"}]}},"_links":{"self":[{"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/posts\/27849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/comments?post=27849"}],"version-history":[{"count":0,"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/posts\/27849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/media\/27852"}],"wp:attachment":[{"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/media?parent=27849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/categories?post=27849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bernstein-bank.com\/de\/wp-json\/wp\/v2\/tags?post=27849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}