December Stock Market Forecast: Rocky Road Ahead, According to Morgan Stanley's Wilson

Morgan Stanley strategist Michael Wilson predicts a rocky end to the year for US stocks as bond yields fluctuate, potentially causing near-term volatility in both rates and equities. Despite a strong November rally, the S&P 500 is now in overbought territory, indicating a possible selloff. Wilson remains broadly neutral for the year, expecting the index to end 2024 around 4,500 points. Other Wall Street forecasters have expressed optimism for US stocks in 2024, while JPMorgan Chase & Co. strategists have a more bearish outlook, predicting a slide to 4,200 points by the end of the year.