From looking at a list of predictions by major banks, it would appear that there is a high degree of consensus and a low degree of uncertainty regarding where the US stock market will stand at the end of 2017. The median S&P 500 index prediction from these prognosticators for a year from now is 2,325, with a low estimate of 2,300 and a high estimate of 2,450. These predictions conform to the usual situation in which stock market forecasters are generally bullish and often wrong.

At the close of trading on December 27, 2016, the S&P 500 index (as measured by CME-traded near-month E-mini prices) stood near its all-time high of 2,277 set a few days prior, making it quite likely that the market will finish 2016 solidly in the black. Indeed, during the course of the Obama presidency, Wall Street has had an extraordinary run. After hitting an ominously suggestive intraday low of 666 on March 9th, 2009, a few weeks into Obama's first term, the index has turned in a 340% gain. This performance conforms to the observation that historically, the stock market has done substantially better during Democratic administrations. (Since Herbert Hoover, the average annualized 4-year return during Republican administrations was under 2%, whereas the average annualized 4-year return during Democratic administrations was nearly 11%). This paper from the Federal Reserve emphasizes the ever-salient caution to not conflate correlation with causation.

That said, will the S&P 500, as measured by the last traded price of 2017 of the CME E-Mini March 2018 Futures contract, stand above 2,250 at the close of 2017?