.SPX YTD mountain The S & P 500 has already broken above 4,500.
RBC projects earnings per share for the S & P 500 will rise about 4% in 2024, and notes that the economy could be surprisingly resilient once again.
"The possibility that the economy surprises to the upside again in 2024 is an upside risk to our S & P 500 target price.
That being said, we continue to have doubts that a recession must necessarily be priced into the US equity market," Calvasina said.
When market cap concentration has spiked in the past, it's often been associated with periods of nervousness in the US equity market.
Persons:
Lori Calvasina, Calvasina, it's
Organizations:
RBC Capital Markets, CNBC Market, Survey, RBC
Locations:
U.S