2023 Gain, Recession Fears, and Debunking Bear Market Arguments: Insights from CNBC Survey
According to a CNBC survey, over 60% of Wall Street investors believe that the stock market's gains in 2023 are just a bear market bounce, with more trouble ahead. The S&P 500 has fallen over 5% this month, cutting its 2023 gains to 11%, as the Federal Reserve signaled higher interest rates and bond yields rose. Additionally, 41% of respondents expect a recession in mid-2024, while 23% believe it will arrive later than 12 months from now.