Morgan Stanley: Fear of missing out sentiment may drive the S&P 500 index to 6100 points.

On November 5th, Mike Wilson, Chief US Stock Strategist at Morgan Stanley, said that as the US presidential election comes to a close and the fear of missing out (FOMO) sentiment starts to emerge towards the end of the year, investors are beginning to relax their guard. It is possible that the S&P 500 Index (SPX) will continue to rise until the final stage of 2024, and a further 5% pump is not impossible on this basis. He said in an interview on Monday, “I think that in a certain clearing event, the S&P 500 index may reach 6000 points, and there will not be too much panic at that time, and people will feel good about it.” This means that the US stock market will pump nearly 5% from the closing point of 5728 last Friday. Wilson subsequently added that the S&P 500 index could rise to 6100 points by the end of the year, but due to overvaluation and the unlikely acceleration of economic rise to further drive up valuations, the index will not exceed this level by 2025 ‘under any circumstances’. (Jinshi)