Morgan Stanley Analyst Forecasts 11% S&P 500 Surge, Gold Remains Resilient

Morgan Stanley analyst Andrew Slimmon predicts that the S&P 500 could surge another 11% by the end of the year, driven by gains in the "Magnificent Seven" stocks, which include Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta. Despite their strong performance this year, Slimmon believes these stocks still have room to grow and expects investors to pile in during the fourth quarter. He anticipates the S&P 500 to reach a benchmark closer to 5,000, representing an 11% increase. However, some analysts, including fellow Morgan Stanley strategist Mike Wilson, hold a more bearish outlook and caution against the risks of climbing to new heights.