"2024 Fed Rate Cut Bets: Impact on Tech Stocks and Market Correction"

Wall Street investors are cautioned against betting on early monetary easing in 2024, with two-thirds of Bloomberg Markets Live Pulse respondents deeming it the "most foolish" trade. Despite the S&P 500 closing at an all-time high, concerns arise over US economic resilience and Federal Reserve officials pushing back against early rate cuts. Rising anxiety suggests that bullish speculation on a dovish Fed pivot may be excessive, leading traders to reconsider their rate cut forecasts. The re-acceleration of inflation and US employment resilience challenge market interest-rate expectations, while San Francisco Fed President Mary Daly deems it "premature" to anticipate rate reductions. The survey also indicates a shift from risk-off to risk-on sentiment at the end of 2023, prompting investors to weigh optimism against potential setbacks.