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Julian Emanuel of Evercore ISI calling for the S&P 500 to end next year at

drum roll 4750 basically where we are now he sees a pull back in the first half that will take the index down to 3970 and then a rally kicking in quote prior to the 20 2024 election based on received recession trough and

inflation falling to the feds 2% target Julian I'm so glad to say is joining

us now Julian you're calling for a pretty big drawdown does that mean that

you're really leaning against what we're seeing right now well actually in

context of of typical drawdowns it isn't really that big, you know, on the order of 15, 16%, which you tend to see in most years,

you didn't see it in 2023, which is why the Vicks is at 12 and we had this you know incredibly great feeling and

obviously we've had a lot of momentum in December and look the message we got

from the Fed was very much an all clear the markets responded in kind

But frankly when you think about it and you go back to July when we had that interim peak at the time of the last hike in fact of the cycle,

...