"Experts Predict Stock Market Crash Similar to 1987: Investors Urged to Act Now"
Société Générale's head U.S. equity and multiasset strategist, Manish Kabra, believes that the S&P 500 is still a "buy the dip" for the next six months, expecting the profit cycle to improve and cyclical data to rise before a consumer-spending downturn triggers a stock-market selloff. Kabra forecasts a target range of 4,050 to 4,750 for the S&P 500, with a mild recession in 2024 potentially leading to a higher risk premium and a decline to 3,800. He disagrees with others on Wall Street who doubt the staying power of corporate earnings. Kabra also discusses the impact of rising bond yields and lays out different yield scenarios and their potential effects on the stock market.