Several Wall Street banks forecast a favorable trajectory for US stocks at least until the end of 2024.
Morgan Stanley’s S&P 500 Prediction
Mike Wilson, head of US equities at Morgan Stanley, anticipates that the S&P 500 index will revisit all-time highs by year-end. He noted, “We have entered a FOMO period. People need to perform over the next two months. We might see a kind of explosive movement post-election.”
JPMorgan Chase’s Expectations
Andrew Tyler, head of US market intelligence at JPMorgan Chase, expects a rise that surpasses the events following Donald Trump’s first presidential election win. He stated, “I expect 2024 returns to be greater than those in 2016.”
Citi’s Year-End Target
Scott Chronert, US equity strategist at Citi, predicts that the stock market could rise to 6,100 points by the end of 2024. He reiterated, “We believe that if the S&P 500 surpasses our year-end bullish scenario target of 6,100, we should tactically pull back from the index’s post-election rise of about 5%.”
As of Friday’s close, the S&P 500 index is trading at 5,870 points. Further gains in the stock market could also indicate an increase in cryptocurrencies. Bitcoin 
$62,511 and other cryptocurrencies react based on the performance of the US stock markets, and the positive correlation suggests BTC might perform even better. Due to Trump’s favorable stance on cryptocurrencies, we may witness an imbalance in correlation, with Bitcoin outperforming the S&P 500.
The consensus among major Wall Street banks for 2024 shows an ongoing upward trend in US stocks until year-end. However, some analysts caution about uncertainties due to potential financial consolidations in the future. These predictions could serve as significant references for observing market movements for traders.
