How a 'Year of Global Rate Cuts' could push the S&P 500 to 5,750: Morning Brief
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Jay Hatfield, founder and CEO of Infrastructure Capital Advisors, predicts that the S&P 500 will reach 5,750, fueled by factors like AI, a housing shortage, and relatively cheap natural gas. He believes the US economy is a juggernaut and has profound advantages over Europe. Hatfield expects the European Central Bank and the Bank of England to cut rates before the US, which could put upward pressure on the dollar and give the Fed cover to cut rates in July. He also predicts that 2024 will be the Year of Global Rate Cuts. Veteran strategist Ed Yardeni is also bullish, with a year-end target of 5,400 for the S&P 500. Both Hatfield and Yardeni agree that the US economy continues to defy gravity and that the direction of the S&P 500 is higher.
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