Markets have been very rocky lately, but Morgan Stanley Investment Management's Andrew Slimmon has an idea of how they could go from here. He says the market could "be consistent with 2023," after much volatility in the past few weeks. In late July, both the S & P 500 and the Nasdaq dived to a low not seen since 2022 before rebounding. Global markets — including the U.S. — sharply sold off last week before bouncing back this week.
The former has gained 18.03% year-to-date, beating the S & P 500's 14.89%. The latter rose 14.68% in the same period, outperforming the MSCI World index's 11.54%. Despite the swings, Slimmon believes that the S & P 500 could dip lower a month from now, but ultimately get "closer to" 6,000 by year-end. The index closed at 5,543.22 on Thursday.