The securities arm of Wells Fargo believes that favorable macroeconomics and accommodative monetary policy will continue to propel the U.S. stock market, which has performed well in 2023 and 2024. Christopher Harvey, head of equity strategy at Wells Fargo, wrote in a note to clients on Dec. 3 that the S & P 500 would stand at 7,007 by the end of December. At Wednesday's close of 6,086, the gain would be 15 percent. The benchmark, which climbed 24 percent in 2023, is up 28 percent this year, the fourth time in 100 years that it has posted two consecutive annual returns of more than 20 percent.