Analysts at Bank of America Securities shared insights in a recent note, highlighting how the S&P 500's robust performance in the first 100 days of 2024 suggest

Bank of America: S&P 500's Strong Start Sets Stage for Bullish Year End


blog post cover photo

Image credit: Yorgos Ntrahas

Analysts at Bank of America Securities shared insights in a recent note, highlighting how the S&P 500's robust performance in the first 100 days of 2024 suggests a bullish outlook for the remainder of the year.

Key Points:

  1. Strong Performance in First 100 Days: Bank of America's research indicates that when the S&P 500 rises by 10% or more in the first 100 days of the year, it tends to signal a strong performance for the rest of the year. This historical trend suggests optimism, with the index up 76% of the time and averaging a return of 7.1% (median return of 9.3%).

  2. Projection for Year End: Based on the S&P 500's performance, Bank of America predicts a range of SPX 5640 to 5750 by the end of 2024. Historical data dating back to 1928 supports this projection, with average and median rest-of-year returns pointing to a range of SPX 5530 to 5650.

  3. Impact of Presidential Election Year: The S&P 500's performance in the first 100 days of a Presidential election year is particularly significant. When the index trades higher during this period, the rest of the year tends to be strong, with an average return of 10.1%. Historical data shows the index up 93% of the time during such years, with median returns of 8.9%.

  4. Summer Rally Anticipation: Bank of America notes that the summer months, particularly June to August, historically witness strong market performance. This period is the second strongest three-month period of the year, with the S&P 500 up 65% of the time, averaging a return of 3.2%.

CTA: For more comprehensive financial data and insights to stay informed about market trends, explore FMP's Full Financial Statements As Reported API.

Link: FMP's Full Financial Statements As Reported API

Other Blogs

Nov 25, 2023 6:39 AM - Parth Sanghvi

DCF Valuation vs. Comparable Companies Analysis: Choosing the Right Valuation Method

Choosing the Right Valuation Method: DCF vs. Comparable Companies Analysis Introduction: Valuation methods play a pivotal role in determining the fair value of a company, aiding investors in making informed investment decisions. Two commonly used methods, DCF Valuation and Comparable Companies A...

blog post title

Dec 23, 2023 2:19 AM - Parth Sanghvi

Understanding the Limitations of DCF Analysis: A Guide to Overcoming Challenges

Introduction: Discounted Cash Flow (DCF) analysis stands as a cornerstone in valuing investments, yet its efficacy is contingent upon various assumptions and methodologies. While a powerful tool, DCF analysis comes with inherent limitations and challenges that investors must acknowledge to make i...

blog post title

Dec 25, 2023 2:28 AM - Parth Sanghvi

Integrating Sustainability into Valuations: Navigating ESG Factors within the Discounted Cash Flow (DCF) Model

Introduction: The investment landscape is undergoing a profound shift with a heightened emphasis on sustainability and responsible investing. In this blog post, we explore the intersection of Environmental, Social, and Governance (ESG) considerations within the Discounted Cash Flow (DCF) model, h...

blog post title


Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
2017-2024 © Financial Modeling Prep