Morgan Stanley's Mike Wilson believes that the S & P 500 could continue to climb before the end of the year, with a 5% gain from now not out of the question as investors breathe a sigh of relief after the US Presidential Election and a "fear of missing out" (FOMO) mentality at the end of the year. But the strategist warns that enthusiasm could fade as 2025 rolls around, with no obvious catalyst in sight. "I think we could see 6,000 points, and if there's not a lot of panic, people feel good about the situation," Wilson said. That would mean the index would be up nearly 5% from Friday's close of around 5,728. Mr. Wilson then added that the S & P 500 could rise to a peak of 6,100 but would not break through that level "under any circumstances" this year because of overvalued valuations and the difficulty of expanding the price-to-earnings ratio further into 2025.