by Sam Ro
The average forecast predicts the S&P 500 climbing by about 10%, which is in line with historical averages.
This time around, the pros are unusually cautious with most expecting the S&P to end 2023 lower than where it is today.
Most Wall Street firms expect the U.S. economy to go into recession some time in 2023.
Many believe forecasts for 2023 earnings have more room to get cut, and some believe those downward revisions mean lots of volatility for stocks in the early part of 2023.
At the same time, many also expect an unambiguous drop in inflation, which would give the Federal Reserve the clearance to ease up on its hawkish monetary policy stance.
At least some strategists think if economic conditions deteriorate significantly, the Fed may even return to cutting interest rates.
Strategists expect a volatile first half to be followed by an easier second half.
Source: Yahoo Finance
https://finance.yahoo.com/news/wall-str ... 55543.html