According to the article, Oppenheimer has raised its S&P 500 price target for 2024 to 4,500, citing the potential impact of artificial intelligence (AI) on the economy. The firm believes that AI will drive productivity gains and boost corporate earnings, leading to a bullish outlook for the stock market. Oppenheimer’s chief investment strategist, John Stoltzfus, stated that AI is “the most important technological development since the internet” and will have a transformative effect across various industries. The firm expects AI to contribute to economic growth and create new investment opportunities. However, Stoltzfus cautioned that the adoption of AI could also lead to job displacement and income inequality, which policymakers will need to address. Overall, Oppenheimer’s bullish stance on AI and its potential to drive economic growth has led to an optimistic forecast for the S&P 500 in 2024.