India, May 31 -- More Wall Street analysts are optimistic about the US stock market's future than before, with predictions hinting at a possible 15% gain in the next year for the S&P 500, the market's benchmark index. The 500 publicly traded companies that dominate the index, which is the most widely traded stock index in the United States and in the world, have generated higher-than-average returns over the long haul. And despite trading near record highs, the S&P 500 is back in the business of generating new capital gains, according to market analysts and traders.

Why Are Analysts Bullish on S&P 500?

Based on market forecasts, the level of the S&P 500 has a median 12-month target of 8,698, according to market data firm FactSet. That m...