Barry Bannister of Stifel, Nicolaus & Co. predicts that the S&P 500 index is expected to rise by another 10%, then change course next year and fall to the level of early 2024. This strategist said that although the market is optimistic about the US economy and the Federal Reserve's interest rate cuts, the benchmark index, which has risen nearly 40% from October last year, is already too aggressive. He said that analysis of 100 years of market fervor shows that the S&P 500 index may rise to around 6,400 points and then fall back to around 4,700 points in 2025, that is, a 26% drop from the expected peak to the level at the beginning of this year. He is one of the few people who predicted the US stock market for the first half of 2023, but since then his bearish predictions have not been realized.

Barry Bannister of Stifel, Nicolaus & Co. predicts that the S&P 500 index is expected to rise by another 10%, then change course next year and fall to the level of early 2024. This strategist said that although the market is optimistic about the US economy and the Federal Reserve's interest rate cuts, the benchmark index, which has risen nearly 40% from October last year, is already too aggressive. He said that analysis of 100 years of market fervor shows that the S&P 500 index may rise to around 6,400 points and then fall back to around 4,700 points in 2025, that is, a 26% drop from the expected peak to the level at the beginning of this year. He is one of the few people who predicted the US stock market for the first half of 2023, but since then his bearish predictions have not been realized.