Despite uncertainties around the US presidential election, the US stock market is poised for continued gains, with the S&P 500 potentially hitting 6,000 points by the end of 2024. đŸ’„

According to a recent Bloomberg survey, the US stock market is expected to maintain its robust rebound through the final phase of 2024. Despite potential headwinds, such as the upcoming presidential election, the median forecast suggests the S&P 500 could approach 6,000 points, up 2.3% from its last close.

📊 Key Drivers:

  1. Corporate Earnings: 75% of respondents believe that strong earnings will push the market forward, particularly from tech giants in the ‘Big Seven’.

  2. Earnings Season Momentum: Around 70 companies in the S&P 500 have already reported earnings, with 76% exceeding expectations.

  3. Less Focus on Election: Many see corporate strength as more critical than the election or Federal Reserve policies.

With corporate earnings surpassing expectations, this rally could bring significant returns for investors as we head into 2024.

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