News Summary

• And though Lee's 5,200 price target assumes stock multiples staying the same, an S&P 500 multiple of 20 would imply a 30% surge in stocks this year, he said, assuming corporate earnings are set to grow around 10%..
• "Consumers will realize that the rate of price increases is slowing," Lee said in an interview with CNBC last week, adding that inflation falling to 2% would be a "very visible" possibility next year..
• Lee was spot-on in his stock market forecast in 2023, having predicted the S&P 500 would soar over 20% to end the year around 4,750..
• And 50% of the time, the price-to-earnings ratio was more than 20, Lee said.Treasury yields have fallen within this golden range over the past few weeks, thanks to investors ramping up their expectations for Fed rate cuts..
• The benchmark stock index ended the year around 4,769, less than 1% away from Lee's target..
• These factors should give stocks the runway to soar in 2024..