Many Wall Street banks forecast that US stocks will follow an upward trajectory at least until the end of 2024.
Morgan Stanley’s S&P 500 Prediction
Mike Wilson, head of US equities at Morgan Stanley, expects the S&P 500 index to revisit all-time highs by year-end.
“We have entered a period of FOMO. People need to perform in the next two months. A post-election surge could occur.”
JPMorgan Chase’s Expectations
Andrew Tyler, head of US market intelligence at JPMorgan Chase, anticipates a larger rise than what occurred after Donald Trump’s first presidential win.
“I expect 2024 returns to exceed those of 2016.”
Citi’s Year-End Target
Scott Chronert, US equity strategist at Citi, predicts that the market could rise to 6,100 points by the end of 2024.
“We reiterate our view that we should tactically retreat if the S&P 500’s post-election rise exceeds our year-end bullish scenario target of 6,100, with an approximate 5% increase from the election date.”
According to the report, as of Friday’s close, the S&P 500 index is trading at 5,870 points. Further increases in the stock market also suggest a rise in cryptocurrencies, which are influenced by US stock performance. Bitcoin 
$79,405 and cryptocurrencies are positively correlated with the performance of US stocks, and this correlation may favor BTC. Due to Trump’s pro-cryptocurrency stance, we could see Bitcoin outperform the SPX, leading to an imbalance in correlation.
In 2024, major Wall Street banks agree that a continued upward trend in US stocks is expected by year-end. However, some analysts caution about uncertainties due to potential future financial consolidation. These forecasts may serve as an important reference for monitoring market movements.
