The contestants in CEDBR’s S&P 500 Prediction Challenge each gave a prediction for the value of the S&P 500 stock market index on August 31st, 2018. As of November 5th, the closing date for entries into the Challenge, the S&P 500 index was valued at 2,587. The median prediction among the contestants for the S&P 500 Index is 2,663.58 points. On average, contestants predicted that the S&P 500 will increase by 3 percent over the next ten months, after the index increased by 14.6 percent this year to date.
Approximately 60 percent of the contestants predicted that the stock market would increase in 2018 over its November 2017 value. Many of their predictions were more bullish than major analysts forecast for 2018. Recently, analysts at Wells Fargo, Goldman Sachs, and Citigroup forecast the S&P 500 to reach 2,500 points, 2,600 points, and 2,675 points, respectively, in 2018. The Federal Reserve Board has forecast continued economic growth in 2018, with modest inflationary expectations and a half point increase in the Federal Funds rate projected.
See results at www.KansasEconomy.org.