JPMorgan and Goldman Sachs have different views on the future of the US stock market as the S&P 500 Index nears record highs.

JPMorgan is optimistic about stocks, while Goldman Sachs predicts a modest annual return of 3% in the coming years.

Goldman Sachs attributes this cautious forecast to the high starting point of the market and elevated Treasury yields, which may lead to investment in bonds and other asset classes.

This difference in perspectives highlights the contrasting strategies and expectations among major financial institutions regarding market performance.