S&P 500 may rise 10% by end of 2024 amid worries that small-cap stocks ‘can’t hack’ higher rates, says BofA

U.S. stocks will probably keep climbing next year, with S&P 500 companies in a stronger position to adapt to higher interest rates than smaller ones, according to BofA Global Research.  

BofA is forecasting that the S&P 500 will end 2024 at 5,000, which is up about 10% from the index’s closing level Monday at 4,550.43. The S&P 500 SPX, which tracks U.S. large-cap stocks, has far stronger gains in 2023 than the small-cap-focused Russell 2000 index.

“Companies…