The Stock Market of Our Dreams
Big banks think another good year beckons, with forecasts uniformly positive, but investors shouldn’t get carried away
It’s the season when Wall Street strategists dust off their crystal balls and predict what markets will do for the year ahead, while conveniently forgetting what they said 12 months ago. As seemingly endless 2017 outlooks clog up investors’ inboxes, Wall Street has a rare reason to be merry: Forecasts are on track for one of their best years ever.
The average prediction at the start of the year was that the S&P 500 would end at 2216, a figure hit—and passed—for the first time on Wednesday. If the market holds on to...