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 Lee.
He highlighted the historical distribution of yearly equity returns since 1900, which shows that the stock market has gained 10% or more 51% of the time. This year is heading in that direction, with the S&P 500 up 17%.