S&P 500 Forecast: Bullish Trends Predict Potential Surge to 15,000 by 2030

Money | June 23, 2024, 7:34 p.m.

Tom Lee, the cofounder of Fundstrat Global Advisors, defied the odds and correctly predicted a stock market surge in 2023 when most of his peers were forecasting a slump and recession. His accurate forecast led Bloomberg to rank him as the most precise forecaster that year. Now, Lee continues to impress with successful predictions, including a recent call for the S&P 500 to reach 5,500 by the end of June, almost hitting the mark. Looking ahead, Lee believes the S&P 500 could skyrocket to 15,000 by the end of the decade, driven by themes like millennials shaping the economy and the global labor shortage boosting AI and tech stocks. His evidence-based approach to forecasting focuses on historical trends and emerging technologies, such as AI, which he believes will play a crucial role in future market growth. While some are cautious of a potential bubble, Lee remains optimistic about the market's trajectory, alongside other bullish Wall Street analysts like Ed Yardeni.