Wall Street Says the Stock Market Will Soar This Year. Don’t Fall For the Fantasy

Jan 10, 2019 - Fortune

On Monday, the Wall Street Journal reported that America’s major banks and brokerages were reducing their 2019 year-end targets for the S&P 500. But they didn’t reduce them by very much. Indeed, the eight institutions that the Journal cited (subscription required) in an accompanying chart are remarkably aligned in predicting that 2019 will deliver splendid gains.

On average, the stalwarts--including J.P. Morgan Chase, Goldman Sachs, and Wells Fargo--forecast that the benchmark S&P inde...