From Fortune:

Morgan Stanley predicts that US stocks will only rise again this year if economic growth increases. Currently, the S&P 500 has seen a hesitant start to 2024 after a nine-week rally. The analyst, Michael Wilson, suggests that the economy’s trajectory will drive the stock market’s performance throughout the year, laying out three possible scenarios.

Considering each scenario, Wilson maintains his 2024 target of 4,500 for the S&P 500, suggesting a trading range until the economic outcome is more definitive. He believes that trading single stocks, factors, and sectors will prove more beneficial than cap-weighted indexes amidst this uncertainty. Despite the caution, other Wall Street strategists continue to hold optimistic predictions and expectations for new market highs.



Read more: Morgan Stanley’s Mike Wilson says stock rally is over unless economic growth picks up