Stocks ended on a high note last year, but were tested by the Federal Reserve’s interest rate hikes, banking turmoil, debt ceiling worries and war in the Middle East.
Many early-year consensus predictions about what 2023 would bring — including a recession and several rate cuts — didn’t pan out.
CNN spoke with five investors about the biggest lessons they learned and how they’ve helped shape their 2024 outlooks.
Fundamentals have to start matteringThe S&P 500 index gained 24% last year despite an earnings recession, often defined as at least two straight quarters of corporate profit losses.
Fourth-quarter earnings, which kick off on Friday with results from big banks, are expected to grow about 1% in the fourth quarter of 2023.
Persons:
Stocks, they’ve, Taylor Swift, Beyoncé, David Kelly, ”, Kelly, Yung, Yu Ma, Don’t, George Cipolloni, Wall, Leslie Thompson, don’t, Thompson, she’s eyeing, FactSet, “, Amanda Agati
Organizations:
New, New York CNN —, CNN, Asset Management, Treasury, BMO Wealth Management, Penn Mutual Asset Management, Fed, Spectrum Wealth Management, Nvidia, Microsoft, Apple, Companies, PNC Asset Management
Locations:
New York