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S&P 500 selling deepens as Bessent's $6 billion Treasury buyback meets $100 Brent, firm yields and rising Fed rate-hike risk.
The S&P 500 has reached a new all-time high 27 times this year. However, trying to time the market is more akin to gambling than true investing.
Military action in Iran started back in February. While the strikes on the country have led to higher oil prices, the stock market has remained resilient and is up 13% six months later.
While RBC Capital Markets, HSBC and Barclays all have price targets for the stock index around 8,000, they outline risks the market is facing.
The nine top S&P 500 companies depend heavily on AI for revenue. Considering the Nasdaq's 78% drop during the dot-com bust, such exposure could cause investors pain.
U.S. stock futures are pointing to a mixed open early Wednesday, with tech and benchmark futures edging higher even as Brent crude surges toward $100 per barrel amid escalating U.S.-Iran military exchanges and ahead of Apple Inc.'s (NASDAQ:AAPL) annual product launch event.
Bloom Energy stock BE rose 8% on Tuesday after the company was selected for inclusion in the S&P 500, adding another potential catalyst for the energy company as demand for power solutions from artificial intelligence data centers continues to grow. S&P Dow Jones Indices announced after Friday's market close that Bloom Energy would join the benchmark index.
The Standard & Poor's 500 Index (SPX-7,718.60) May through July range has turned into an August-September consolidation, with roughly 200 SPX points separating the low and high ends of the ranges in both cases.