Institutional Survey: The S&P 500 Index is heading towards the major milestone of 6000 points

The latest Bloomberg survey shows that despite the upcoming U.S. presidential election being a major uncertainty, the crazy rebound of the U.S. stock market this year is expected to continue until the final stage of 2024.

According to the median estimate of 411 respondents, the S&P 500 index will approach 6,000 points before the end of the year, up 2.3% from last Friday's close and setting new highs. Three-quarters of respondents expect this earnings season to boost indices; for stock market performance, how strong U.S. corporate earnings are is seen as more critical than who wins November's election or even which direction Federal Reserve policy takes.

Data shows that about 70 companies in S&P 500 constituents have announced their results with 76% exceeding expectations. Respondents predict that tech giants announcing results later will lead again; overall, three-quarters anticipate "the big seven" outperforming or matching other companies in the market this quarter.