Stifel believes that the S&P 500 will see a correction of over 10% by the end of October 2024.

Stifel believes that the S&P 500 will see a correction of over 10% by the end of October 2024.

 Stifel's Reasons for the Prediction

Stifel cites slower-than-expected growth in the second half of 2024 and a negative outlook for equities, particularly overextended growth-focused names, as reasons for its prediction.

Stifel's Preferred Sectors

Stifel favors defensive value segments of the market such as Health Care, Consumer Staples, Utilities, and quality as a whole.

Other Financial Institutions Agree

Piper Sandler also expects a deeper pullback/correction in the coming months.

How to Track the S&P 500

Investors can track the S&P 500 through exchange traded funds (ETFs) and mutual funds.

S&P 500 ETFs

Some popular S&P 500 ETFs include VOO, SPY, IVV, SSO, UPRO, SH, SDS, and SPXU.

S&P 500 Mutual Funds

Some popular S&P 500 mutual funds include FXAIX, VFIAX, and VFFSX.

Conclusion

Stifel predicts a 10% correction in the S&P 500 by October 2024. Investors should be aware of the risks and consider diversifying their portfolios.