*WALL STREET WEEK AHEAD: RELENTLESS U.S. STOCK RALLY FACES FED, EARNINGS TEST $DIA $SPY $QQQ 🇺🇸 🇺🇸
NEW YORK - A U.S. stocks rally faces a potential inflection point next week as the Federal Reserve is expected to deliver what may be the final rate hike of its most aggressive monetary policy tightening cycle in decades.
"A big part of the market is still macro driven and inflation is still in the driver's seat. What the Fed does and says next week will be critical," said Cliff Corso, chief investment officer at Advisors Asset Management. Fundstrat Global Advisors' Tom Lee raised his year-end target to 4,825 earlier this month, while Ed Yardeni of Yardeni Research sees the S&P 500 at 5,400 in the next 18 months.
"Consumers have been aided by a tight jobs market and some solid real wage gains, and at the same time we're seeing some real progress on the inflation front," he said. Yet many strategists remain bearish, wary of shortfalls during the ongoing earnings season to surprises in the durability of inflation.), believes inflation will prove more stubborn than expected and has cut exposure to equities in recent months.
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