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I maintain a Buy rating on the S&P 500, seeing no imminent recession despite recent macro volatility and a hawkish Fed hike. Extraordinary earnings growth, with Q2 S&P 500 profits up over 50% YoY and rising analyst estimates, underpins my bullish stance.
Traders turned their attention away from inflation and interest rates toward tech stocks. And record donations are flowing into state attorneys general races.
It's a question of when -- not if -- the next bear market will happen. The market rewards people who stay invested during those downturns.
Ed Yardeni just dialed back one of the boldest bull calls on Wall Street, but the reason has nothing to do with earnings, and that distinction changes everything about how investors should read the signal.
Tech stocks rebound as yields slip below 5% and oil falls, but the Fed's rate hike leaves the Nasdaq and S&P 500 rally on a short leash.
Edward Yardeni, president at Yardeni Research, points to geopolitical developments and higher-for-longer oil prices, among other factors, that led him to lower his year-end target for the S&P 500. He says his previous target of 8,400 is more likely to be reached by the middle of next year.
JPMorgan Chase & Co. equity strategists project that the S&P 500 index will reach 8,000 by the end of 2026, calling the bears an extinct species. Polymarket (CRYPTO: POL) bettors also assign a 35% probability to the index closing above that level.
The investment bank found that stocks in the energy and information technology sectors on average perform the best one year after an interest-rate hike by the Federal Reserve.