It's almost the end of the first quarter of the calendar year, and the good news for investors is that the S 500 index has delivered steady gains of 9% in 2024. More importantly, the stock market seems set for more upside as the year progresses thanks to strong earnings performances from major names in the index.

Not surprisingly, analysts have been quickly raising their forecasts about where the S 500 could be at the end of the year. Bank of America now expects the S 500 to hit 5,400 by the end of 2024 as compared to its earlier forecast of 5,000. Goldman Sachs lifted its forecast to 5,200 last month from 4,700 in December, but it looks like the investment bank will have to further raise its expectations as the index is already past that mark.

This broader stock market rally is going to be a big tailwind for the likes of Nvidia (NASDAQ: NVDA), The Trade Desk (NASDAQ: TTD), and Micron Technology (NASDAQ: MU). All three companies are benefiting from a major catalyst that could help them maintain impressive levels of growth in 2024 and beyond.

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Source Fool.com