Boldest 2023 forecasts

Happy new year, readers.?I'm senior reporter Phil Rosen.?

Some congratulations are in order: You've officially emerged from the strange, gooey week in between Christmas and January 1st when nothing gets accomplished. Bravo.?

Now it's full speed ahead into 2023 — and the first Opening Bell newsletter of the year is a doozy.

I spent time scouring research notes and talking to experts over the last few weeks to see who had the boldest forecasts for the new year.?

Let's see what made the cut.

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1. Over the last 12 months, volatility defined global markets.?From the crypto winter to Russia's invasion of Ukraine and the Federal Reserve's aggressive monetary policy,?investors struggled?to find stability.?

Yet, a slate of top banks and commentators are?predicting more tumult ahead.?

In 2022, the S&P 500 shed 20%, and strategists at Truist said it could fall further still as weak corporate earnings limit upside.

But the firm isn't alone in its downbeat view. Morgan Stanley, Bank of America, and Deutsche Bank all forecasted that the key index?could tank over 20%?at some point this year.

Notably, Tesla stock?became subject to a particularly grim prediction. Long-time bear Gordon Johnson of GLJ Research said the EV maker could?drop as low as $23 per share, down from about $120 currently.?

"They're just a car company that has built too much capacity that they can't sell," he told CNBC in an interview.

As for the broader economy,?Ark Invest CEO Cathie Wood said it could slow down to such an extent that it?resembles the crippling landscape from a century ago.

"The Fed raised rates in 1929 to squelch financial speculation and then, in 1930, Congress passed Smoot-Hawley, putting 50%+ tariffs on more than 20,000 goods and pushing the global economy into the Great Depression," Wood warned. "If the Fed does not pivot, the set-up will be more like 1929."

Meanwhile in commodities, consider gold. It's currently hovering around $1,826 an ounce.?

Saxo Bank analysts forecast that the precious metal could see another banner year and?skyrocket to $3,000 an ounce.

What are you most bullish on to invest in for 2023??Let us know in the comments.

In other news:

2.?These apps make real-estate investing?simple and straightforward.?Certain companies are offering buyers the chance to tap into the trend of "fractional ownership," which means you can invest in shares of an income-producing property.?See the list of 11 startups here, with some offering perks for as little as $5.

3.?Here is your complete guide to navigating the stock market.?Strategists are reconsidering their approaches in 2023 and bracing for more market turbulence.?Here are over 100 investing ideas from top fund managers and firms to kick off the new year.

4.?Some people see the changing of the calendar as a time for a fresh start.?These?25 towns and cities will pay you?as much as $20,000 to move there.?Just ask this 28-year-old crypto startup founder who was paid to relocate to Arkansas.?

5. Putin faces a tough 2023 for Russian oil.?Western sanctions and a price cap are continuing to weigh on Moscow's export revenues and alter global flows.?Three experts shared their take on the oil landscape ahead.

This is a condensed version of Insider’s 10 Things Before the Opening Bell newsletter. To see items 6-10, sign up here to receive the full newsletter in your inbox.

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This newsletter was curated by Phil Rosen.