"Bold Prediction: S&P 500 to Soar to 5,000 in 2024"

RBC Capital Markets predicts that the S&P 500 will reach a new record high of 5,000 by the end of next year, joining other bullish forecasts for 2024. Strong investor sentiment and buoyant equity valuations are expected to drive the index to new heights. Despite relatively high Treasury yields, analysts believe they do not pose a threat to the appeal of equities. The forecast is based on five models that consider sentiment, valuation and earnings, the economy, politics, and the relationship between stocks and bonds. The US presidential election is seen as a potential source of uncertainty for the stock market in 2024.