Here’s Why Morgan Stanley Says S&P 500 May Near 3,000

The Standard & Poor’s 500 Index rally isn’t over and the gauge could jump 50 percent more by 2020 as the U.S. economic recovery heads for a record winning streak, according to Morgan Stanley.

A slower though sustained period of growth could help the equity benchmark gauge peak near 3,000, according to a report dated today. The U.S. economy, which began recovering in July 2009, may continue growing for five years or more, making it the longest period of expansion, Morgan Stanley said. The S&P 500 fell 0.1 percent to 2,001.87 at 10:03 a.m. in New York.