Golden Finance reported that Wells Fargo’s securities company believes that favorable macroeconomics and loose monetary policies will promote the continued rise of the U.S. stock market with outstanding performance in 2023 and 2024. Christopher Harvey, the company's head of equity strategy, wrote in a research report to clients on December 3 that the S&P 500 Index will reach 7,007 points by the end of December next year. Based on Wednesday's closing level of 6,086 points, the increase will reach 15%. The benchmark stock index, which climbed 24% in 2023, is up 28% this year, marking the fourth time in 100 years that it has recorded annual returns of more than 20% for two consecutive years.