2024 Outlook: S&P 500 Gains Expected Despite Economic Risks

CNBC's Jim Cramer agrees with Bank of America's bullish outlook for the S&P 500, stating that it could reach 5000 by the end of next year. While he agrees with the sentiment, he is non-committal about the factors that could drive the index to that level. Cramer is optimistic about large-cap stocks other than the dominant tech stocks and believes that mergers could be the lifeblood of the next bull market. Bank of America strategist Savita Subramanian anticipates 2024 as a "stock picker's paradise" and believes that the market has already absorbed significant shocks and adapted to higher rates and inflation.