In a market outlook report, BMO Chief Investment Strategist Brian Belski and his team projected the benchmark S&P 500 .SPX would end 2024 at 5,100, nearly 12% above Friday's closing level. "We also believe that volatility is likely to subside as macro-environment resiliency continues to surprise alongside falling inflation," the BMO strategists said. "We believe investors will need to own a little bit of 'everything' and not tilt too far in one direction or another from a sector, style, and size perspective - a sharp contrast to the trends that prevailed during 2023," the BMO strategists said.