Goldman Sachs has forecast the S&P 500 index would reach 6,500 by the end of 2025, joining peer Morgan Stanley, on the back of continued growth in the U.S. economy and corporate earnings. On Monday, Morgan Stanley also forecast the benchmark index would hit 6,

Goldman Sachs cut its forecast for Europe's benchmark equity index STOXX 600 for the next 12 months, citing the persistently weak economic performance of the region and dull corporate earnings growth.

Wall Street strategy firms, including Goldman Sachs and Morgan Stanley, are forecasting the S&P 500 to reach 6,500 by the end of 2025. Markets Reporter Josh Schafer joins Morning Brief to highlight a key takeaway — the stock market rally will broaden beyond the "Magnificent Seven" tech stocks.

Goldman Sachs sees the S&P 500 gaining 11% over the next year as stock market gains continue to broaden out from a few large tech names.

Goldman sees the S&P 500 index reaching 6,500 by the end of next year, the same as Morgan Stanley's base case. Read more.