CNBC
- Despite a downbeat August, the S&P 500 index is still boasting impressive year-to-date gains.
- The benchmark stock-market gauge is up over 17% so far in 2023, and one expert sees it climbing even higher.
- Morgan Stanley's Andrew Slimmon sees the S&P 500 nearing 5,000 by year-end – what would be an 11% rise.
The US stock market has enjoyed a strong rally in 2023, with a handful of mega-cap tech stocks boosting the S&P 500 by more than 17% year-to-date.
One expert believes the run could continue even further – predicting the index could reach "closer" to 5,000 points by the end of 2023 – in what would mark an 11% increase from Tuesday's close of 4497. That could also mean the index topping the current record high of about 4,818, reached in January 2022.