BMO Capital Markets boosts its S&P 500 (^GSPC) target to 6,100 as the index notched a new record high above 5,700 in Thursday's session. Catalysts hosts Madison Mills and Seana Smith check out BMO Chief Investment Strategist Brian Belski's new price target,

BMO Capital Markets on Thursday said it was raising its S&P 500 target for 2024 to 6,100 from 5,600. The benchmark index was last at 5,720, up 1.8% on the day, following Wednesday's Federal Reserve decision to kick off its monetary easing cycle with half-a-percentage point reduction.

S&P 500 has already rallied well over 20% this year but Brian Belski, the chief investment strategist of BMO Capital Markets, sees further gains in the months ahead. The benchmark index could climb further and hit the 6,

BMO Capital Markets on Thursday upped its year-end target for the S&P 500 (SP500) for a second time in 2024, with the brokerage now seeing the benchmark index reaching 6,100 points. BMO's new target is the highest on Wall Street,