Goldman Sachs published a report, saying that it expects the S&P 500 index to rise to 6,500 points by the end of this year, mainly driven by corporate profit growth; it estimates that earnings per share will grow by 11% this year and 7% next year, and the price-earnings ratio is expected to remain at about 21.5 times by the end of the year. Goldman Sachs said that the total return rate of the S&P 500 index reached 25% last year, and it was the second consecutive year that the return rate exceeded 20%. The last time the S&P 500 index returned more than 20% for two consecutive years was in 1998 and 1999. Nearly half of the annual return last year came from five stocks, namely Nvidia, Apple, Amazon, Alphabet and Broadcom.