Wall Street expects stocks to recover after the election hurdle

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

Morgan Stanley Mike Wilson and JPMorgan Chase & Co.’s Dubravko Lakos-Bujas are among market watchers who said this week that the stock benchmark is poised to move higher once a winner is announced. Meanwhile, strategists at Jefferies LLC say stock weakness in the week before the vote usually bodes well for performance the following month, making last week’s plunge a potentially bullish signal.