Zacks
The Zacks Analyst Blog Garmin, Geely Automotive and Raymond James
Zacks Equity Research
6 min read

In This Article:

For Immediate Releases

Chicago, IL – December 9, 2024 – Zacks.com announces the list of stocks and featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include including Garmin GRMN, Geely Automotive GELYY and Raymond James RJF.

Here are highlights from Monday’s Analyst Blog:

A Holiday Season Investing Report: Zacks December Strategy

The following is an excerpt from Zacks Chief Strategist John Blank’s full Dec Market Strategy reportTo access the full PDF, click here.

Zacks has pulled together a few selected stock stocking-stuffers for you.

I. Introduction


2024 was an excellent year to own stocks.

Heeding no particular stock style over another (though Growth worked better), and without being too picky about market capitalization.

Here is a set of facts which confirm it:

YTD returns to December 3rd, 2024?

  • The narrow DJIA index was up +18.82%

  • The broad S&P500 was up +26.78%

  • The tech-heavy Nasdaq was up +29.26%, and

  • The small cap RUT index was up +20.08%


Across 2023?

  • The narrow DJIA index was up +13.72%

  • The broader S&P500 index was up +23.43%

  • The tech-heavy Nasdaq was up +41.05%, and

  • The small-cap RUT index was up +13.78%

The historical expected annual return (using data from 1930 to 2021)? +7.9%.

Over the last 30 years? +11.1%.

Can 2025 add to YTD index returns, after a major Nov. 5th U.S. election?

II. Annual S&P500 earnings fundamentals, going forward, do appear sound


Bottom-up investing is an investment approach that focuses on analyzing individual stocks and de-emphasizes the significance of macroeconomic and market cycles.

The latest S&P500 bottom-up target, pulled together by adding up individual company earnings price targets? It is 6,610 for yearend 2025.

Top-down investing is an investment analysis approach that focuses on the macro factors of the U.S. economy, such as GDP, employment, taxation, interest rates, etc. before examining micro factors -- such as specific sectors or companies.

The "top-down" Wall Street sell-side strategist S&P500 macro-inspired targets at year-end 2024?

They look similar to the ones pulled together by the bottom-up company analyst communities.

Now, read on…

Explore what S&P500 sectors and industries covering institutional analysts upgraded, entering the final month of 2024.

Note —

A top-down strategist like me, putting a ‘Market Weight’ on a Zacks sector or a Zacks industry, is similar to a company analyst having a ‘Hold’ rating on an individual stock.

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