Goldman Sachs analyst David Costin said that although investors are still optimistic that companies will benefit from the application of artificial intelligence, the rise in US stocks this year may stagnate for the rest of 2024. Costin said that from now on, the S&P 500 index has basically “no return” this year. He predicted that the S&P 500 index would close at 5,200 points in 2024. Costin said the current “expensive” stock market compared to historical levels reflects pricing that the annual growth rate of the US economy will be higher than the current level of about 3%. He said growth stocks in particular are currently trading at an “extremely high premium.” Costin warned that in some cases, revenue growth for some considered winners in the field of artificial intelligence may fall short of current expectations, which poses a risk to the market. Costin added that the US economy is “performing well” and the unemployment rate is at a historically low level and that “inflation is moving in the right direction”, but the pace is not enough for the Federal Reserve to cut interest rates at this time.