Strategist Julian Emanuel said in a note to clients that stocks are set to rally into the end of the year.
The S & P 500 has successfully weathered several key tests and should be in line for a year-end rally, according to Evercore ISI. Strategist Julian Emanuel said in a note to clients on Sunday that the investment landscape has had several "stress lines," created by trends like the bond market sell-off, higher oil prices and geopolitical uncertainty. But those lines have held firm so far and now should get relief with Treasury yields starting to fall again, the note said.
"The implications set the S & P 500 on course to our year-end 4,450 PT, with a potential for overshoot to YTD highs," Emanuel continued. Evercore ISI's target of 4,450 is the median target on Wall Street, according to CNBC's Market Strategist Survey . The average target is slightly below at 4,358. If the S & P 500 hits that mark, it means that the stock index will rise another 2% by the end of the year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How to Combine the Power of Fundamental With Technical Analysis to Pick WinnersStocks Analysis by Investing.com (Calogero Selvaggio) covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, Apple Inc. Read Investing.com (Calogero Selvaggio)'s latest article on Investing.com
Read more »
Stock futures rise slightly after the S&P 500's best week of 2023The Dow just capped its most winning week since October 2022, while the S&P 500 and Nasdaq posted their best weeks since last November.
Read more »
Stock futures are little changed after the S&P 500's best week of 2023The Dow just capped its most winning week since October 2022, while the S&P 500 and Nasdaq posted their best weeks since last November.
Read more »
S&P 500 rallies as markets digest soft US jobs data, Fed rate hike pauseWall Street finished the week with gains on Friday, following a turbulent week that witnessed the US Federal Reserve (Fed) decision to hold rates, while traders priced in the Fed finished its tightening cycle.
Read more »
Phoenix finishes clearing downtown homeless encampment after finding shelter for more than 500The city of Phoenix has successfully cleared out a massive downtown homeless encampment by Saturday's court-ordered deadline by helping more than 500 people find beds in shelters and motels.
Read more »
Russell 2000 Eyes 200-DMA Test; S&P 500, Nasdaq Back Above Rising TrendlineStocks Analysis by Declan Fallon covering: S&P 500, US Small Cap 2000, iShares Core S&P 500 ETF, SPDR® S&P 500. Read Declan Fallon's latest article on Investing.com
Read more »