Oracles of Wall Street 2024

Insider - Dec 18th, 2024

In 2024, the US economy continued its trajectory towards a soft landing, with artificial intelligence companies maintaining their market dominance. The S&P 500 performed exceptionally well, surpassing most predictions and achieving a 27% gain so far. Business Insider highlighted strategists who accurately predicted market trends, emphasizing those who made calls against the consensus. Key highlights include DeGraaf's prediction of the S&P 500 reaching 5,800, Bartels' belief in AI's transformative potential, and Richey's anticipation of the index hitting 6,000. The market saw a surprising 50 basis-point rate cut by the Fed in September, with economists like Feroli and Dutta correctly predicting this move. Small-cap stocks experienced a surge, predicted by Golub, and Nvidia's stock rose sharply due to strong demand for its GPU products. Additionally, gold prices surged, with Milling-Stanley's prediction of a rise to $2,700 per ounce proving accurate. Looking ahead to 2025, experts predict continued strong performance in the S&P 500 and potential challenges if negative catalysts emerge.

Economy

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RATING

5.6

Moderately Fair

Read with skepticism

The article provides a comprehensive overview of market predictions for 2024 and beyond, highlighting various strategists and analysts who made accurate forecasts. However, the article lacks specific source citations and detailed evidence supporting the claims made, which affects its accuracy and transparency. The article is clear and logically structured but could benefit from more balance in presenting multiple viewpoints.

Accuracy

The article discusses various market predictions and outcomes but does not provide specific evidence or data to verify the claims. The predictions themselves are not factually inaccurate, but without sources or data, the accuracy is questionable.

Balance

The article primarily highlights successful predictions and does not explore potential opposing viewpoints or predictions that did not come true. This creates an unbalanced perspective, focusing heavily on positive outcomes.

Clarity

The article is well-written, with a clear and logical structure. The language is neutral and free of emotive terms, making it easy to follow. However, additional context could enhance understanding.

Source quality

The article lacks specific source citations, making it difficult to assess the credibility and reliability of the information presented. It references strategists and analysts but does not provide direct links or detailed attribution to their original analyses.

Transparency

The article does not disclose potential conflicts of interest or affiliations. Additionally, the lack of source attribution limits transparency regarding how conclusions were reached.