Prominent financial institutions on Wall Street are predicting a positive trajectory for US stocks, projecting significant gains through the end of 2024.
What is Morgan Stanley’s Forecast for S&P 500?
Mike Wilson, who leads US equities at Morgan Stanley, forecasts that the S&P 500 index will reach new all-time highs by the conclusion of this year. He noted, “We have entered a period of FOMO. People need to perform in the next two months. A post-election surge could occur.”
How Does JPMorgan Chase View Market Growth?
Andrew Tyler, the head of US market intelligence at JPMorgan Chase, predicts market gains will surpass those experienced after Donald Trump’s initial presidential victory, stating, “I expect 2024 returns to exceed those of 2016.”
Additionally, Scott Chronert, a strategist at Citi, estimates the market could rise to 6,100 points by the end of 2024. He emphasized the importance of strategically retreating if the S&P 500’s post-election performance exceeds their year-end target, suggesting a 5% increase from the election date.
Key takeaways from these predictions include:
– Anticipation of S&P 500 reaching all-time highs.
– Expected rise in the market to approximately 6,100 points.
– Correlation between US stock performance and cryptocurrencies, with Bitcoin potentially outperforming the S&P 500.
The collective outlook from major banks indicates an optimistic trend for the US stock market in 2024, although caution is warranted regarding potential financial uncertainties that may arise in the near future.