Historical returns suggest Wall Street is wrong about 2024, and more big gains are coming for stocks

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.Andrew Kelly/Reuters

  • Wall Street’s outlook for the stock market in 2024 is too bearish, according to Fundstrat’s Tom Lee.

  • He pointed to the historical distribution of annual stock market returns.

  • Since 1900, the S&P 500 has experienced yearly gains of 10% or more 51% of the time.

Wall Street is too bearish on the stock market heading into 2024, according to a Friday note from Fundstrat’s Tom…

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