RBC Capital Markets is getting more bullish on stocks as the bank bets on the U.S. economy to get 'back-on-track.'
RBC Capital Markets is getting more bullish on stocks as the bank bets on the U.S. economy to get"back on track."
"We continue to believe the U.S. economy will soon climb out of the rough patch that the stock market paid the price for in December," said Lori Calvasina, head of U.S. equity strategy at RBC, in a note."We do not currently see signs of euphoria that would make us cautious short term." The average S&P 500 target from the 17 top Wall Street analysts is 2,950, a CNBC analysis shows. RBC is not alone on Wall Street in dialing up its stock forecast. Credit Suisse this week raised its S&P 500 target for 2019 to 3,025 from 2,925, citing"more favorable" economic trends and"receding" market risks.
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.
Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019Underneath the stock market's epic rebound has been a 'more favorable' trend that Credit Suisse says will drive the market higher.
Read more »
Around 1 In 500 New Zealand Muslims Killed Or Hurt In Mosque ShootingAn alleged white nationalist shooter killed at least 49 people at two mosquesin Christchurch, New Zealand, during midday prayers on Friday, when Muslimstraditionally gather for service
Read more »
Wall Street gains with tech; S&P 500 posts best week since NovemberU.S. stocks rose on Friday, led by technology companies, as a report on progress...
Read more »
Death toll from cyclone surpasses 500 in southern Africa
Read more »
Retail stocks do well after March S&P 500 rebalancingOver the past decade, the best-performing S&P industry group in the month after a March S&P quarterly rebalance has been Retail.
Read more »
'There is death all over': Cyclone Idai toll rises above 500Torrential rains were expected to continue into Thursday and floodwaters were still rising, according to aid groups trying to get food, water and clothing to desperate survivors.
Read more »
Death toll from cyclone surpasses 500 in southern AfricaA week after Cyclone Idai hit coastal Mozambique and swept across the country to Zimbabwe, its death, destruction and flooding continues to grow in southern Africa, making it one of the worst natural disasters in the region's recent history.
Read more »
Jeffrey Gundlach says Fed this week was 'not reassuring' and S&P 500 still in bear marketDoubleLine Capital CEO Jeffrey Gundlach spoke to CNBC's Scott Wapner on Thursday.
Read more »