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

On November 5th, Morgan Stanley's Chief US Stock Strategist Mike Wilson stated that as the US presidential election enters its final stages and FOMO sentiment begins to emerge at the end of the year, investors are starting to relax their guard, and the S&P 500 index (SPX) may continue to rise to the final stage of 2024, on which basis a further 5% increase is not impossible.

He said in an interview on Monday, "I think that in some sort of clearing event, the S&P 500 index may stand at 6,000 points, and there won't be too much panic, and people will feel good about things." This means that US stocks will rise nearly 5% from the closing level of 5,728 points last Friday.

Wilson later added that the S&P 500 index may rise to 6,100 points before the end of the year, but because valuations are too high and economic growth is unlikely to accelerate to drive valuations higher, the index will not exceed this level "in any case" by 2025.