Wall Street Is Counting on Stocks to Rally After Election Hurdle

A growing number of Wall Street strategists are predicting that a decision in the US presidential election will set the stage for stocks to rally into the end of 2024, building on a 21% gain this year for the S&P 500 Index.

Morgan Stanley’s Mike Wilson and JPMorgan Chase & Co.’s Dubravko Lakos-Bujas are among market watchers who said this week that the stock benchmarkis poised to swing higher once a victor is declared. Meanwhile, Jefferies LLC strategists say equities weakness in the week before the vote has typically been a good omen for performance in the subsequent month, making last week’s slump a potentially bullish signal.