Brian Belski, chief investment strategist at BMO Capital Markets, rated the S & P 500 in a research note on WednesdayiosplaytoearncryptogamesIts year-end target price was raised from 5100 points to 5600 points, pointing out that market momentum "may continue." Belsky's 5600-point target will rise about 7% from Monday's close.

"We are satisfied with this because we believe the market performed similar to 2021 and 2023, when we did not fully recognize the strength of the market momentum, and this time we are trying to avoid that," Belsky wrote in a research note.

Belsky is the latest in a series of Wall Street strategists to upgradeiosplaytoearncryptogamesSet the year-end target to chase the stock market's rise in 2024. The stock market's high this year is 5200, and strategists 'median target is 4850.

But earnings growth this year exceeded analysts 'expectations, and U.S. economic growth also largely exceeded expectations. Among the 15 strategists tracked, 10 currently have year-end target index at or above 5200 points.

As stocks surged higher, investors actively adjusted their expectations for the Federal Reserve to cut interest rates this year. Based on the data, there are signs that inflation is not falling as quickly as economists had hoped, and investors now expect about two interest rate cuts this year, down from a peak of nearly seven times in early January.

That's consistent with the Fed's latest Economic Forecast Summary (SEP) report, which showed that most officials believe the Fed will cut interest rates two to three times this year.

"We have clearly recognized that we have underestimated the strength of market momentum, especially given that investor expectations and the Fed's policy guidance are already largely aligned, and there was a significant disconnect at the beginning of the year," Belsky wrote.

He admitted that the stock market would have twists and turns along the way. Through historical analysis, Belsky believes that the market may not have experienced its worst decline this year. Belsky's research shows that the average correction in the second year of a bull market is 9.5%.iosplaytoearncryptogames.4%。The most recent correction in April was just over 5%.

But given the index's rebound from April lows, Belsky is "now convinced that a more severe correction could occur at a higher index level than we had previously expected," providing a higher landing point for the S & P 500 after its rebound.

Given the strong performance of stocks at the beginning of the year, history suggests further gains could be expected in the future. Belsky said that in a year where the S & P 500 rose more than 8% in the first five months of the year (as it is now), there is a 70% chance that the index will rise more than 7% by the end of the year.

"Historically, such a strong performance at the beginning of the year tends to last through the end of the year," Belsky wrote.