Wells Fargo Securities is officially out with its 2024 stock market forecast.
The second half will be better, but the first half is going to be really, really sloppy."
In his official 2024 outlook note, Harvey told clients to brace for a "trader's market" instead of a "buy-and-hold situation."
We've seen the equity market pull back, and it's just not a great setup into 2024," Harvey added.
He warns the higher cost of capital is an additional market problem because it prevents multiples from going higher.
Persons:
Chris Harvey, CNBC's, Harvey, it's
Organizations:
Wells Fargo Securities
Locations:
Wells Fargo