The S 500 index has already racked up impressive gains of almost 11% in 2024. Even better, the index is expected to move even higher thanks to tailwinds like cooling inflation fueling rate cut speculation and further adoption of artificial intelligence (AI) technologies among many component companies.

According to independent London-based research firm Capital Economics, the S&P 500 (which is at 5,354 at the time of this writing) could rise to 6,500 by the end of next year. That's a roughly 23% jump over the next 18 months or so.

Given the current bull market enthusiasm fueled by anything AI as well as talks of rate cuts, investors would do well to give some consideration toward buying shares of C3.ai (NYSE: AI) and Arm Holdings (NASDAQ: ARM). These are two growth stocks that seem primed for impressive gains thanks to these two catalysts. Let's look at the reasons why these two stocks could head higher in 2024 and beyond.

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Source Fool.com