Morgan Stanley: FOMO sentiment may push the S&P 500 index to 6,100 points

Mike Wilson, chief U.S. equity strategist at Morgan Stanley, said that as the U.S. presidential election draws to a close and FOMO sentiment begins to emerge at the end of the year, investors begin to relax their vigilance, and the S&P 500 Index (SPX) may continue to climb into the final stage of 2024, and it is not impossible to rise another 5% on this basis. He said in an interview on Monday: "I think the S&P 500 index may stand above 6,000 points in some kind of liquidation event, when there will not be too much panic and people feel good about things." This means that U.S. stocks will rise nearly 5% from 5,728 points at the close of last Friday. Wilson then added that the S&P 500 index may rise to 6,100 points by the end of the year, but because valuations are too high and economic growth is unlikely to accelerate to drive valuations further, the index will not exceed this level in 2025 "under any circumstances." (Jinshi)