Getty Images Many Wall Street strategists started out the year forecasting that stock market returns would be modest, if not unspectacular. Still, the consensus remains that the drawdown in stocks is a normal correction that likely won't be accompanied by an economic recession, so the 6-year-old bull market is still alive.

We've rounded up the calls from the top firms on Wall Street, highlighting those that have revised their forecasts and why:. That could spill over and negatively affect business and consumer sentiment, "resulting in a lack of risk taking, and eventually creating a negative feedback loop into the real economy.

Wall Street stock market outlook - Business Insider

If China markedly devalues that deflates the world. Similar to our profit figure, we are reviewing our target multiple for a possible downward revision, but at this time we are standing pat," said Brian Rauscher.

However, the recent decline in 10 year rates will be supportive for equities.

The equity risk premium is still high ," said Sean Darby. This should cause earnings per share growth and returns to remain subdued.

Further, economic trends have softened, with the November ISM at Global growth re-accelerates in 3. US growth should improve on heels of better consumer income, Why big data can make HR more important. You are using an outdated version of Internet Explorer. For security reasons you should upgrade your browser. Please go to Windows Updates and install the latest version.

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Markets Outlook

Here's what 18 Wall Street pros are predicting for the stock market in Akin Oyedele and Bob Bryan. But in the first few weeks of , stocks have turned more sour than expected. And so it's no surprise that some pros have lowered their year-end expectations.

We've rounded up the calls from the top firms on Wall Street, highlighting those that have revised their forecasts and why: Bank of America Merrill Lynch.

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Here's what 18 Wall Street pros are predicting for the stock market in Here's what 18 Wall Street pros are predicting for the stock market in Many Wall Street strategists started out the Featured Why big data can make HR more important.

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