US Stocks: 2024 Forecasts from Leading Banks

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by Giorgi Kostiuk

2 years ago

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.Mike Wilson

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.Andrew Tyler

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.Scott Chronert

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.

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