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Analyst Insights on S&P 500 Performance Amid Megacap Tech ...
2024-07-09 05:53:56
Stocks
Markets
Tech

Analyst Insights on S&P 500 Performance Amid Megacap Tech Influence and Earnings Season

As Wall Street analysts adjust their S&P 500 targets, concerns arise over the impact of megacap tech stocks on market performance. While analysts like John Stoltzfus remain optimistic, citing strong corporate earnings and economic indicators, others like Piper Sandler are abandoning specific price targets due to tech stock dominance.

The S&P 500's record highs are driven by big tech companies like Apple and Nvidia, with upcoming earnings crucial for their growth validation. Amidst varied predictions, Morgan Stanley forecasts a potential 10% decline by the U.S. election, highlighting concerns over interest rates and earnings.

However, market veterans like Ed Yardeni believe in a sustained bull market, attributing it to AI advancements and potential Fed actions. With renewed price targets for Google's parent company Alphabet, the market remains attentive to tech sector dynamics and upcoming economic reports for further S&P 500 movements.

Related news on that topic:

Stock Market Today: Dow Jones Rises; Nvidia Chipmaker Gets Price ... Target Hike

The stock market experienced gains as the Dow Jones futures rose, with investors eagerly awaiting speeches from Federal Reserve Chairman Jerome Powell. Nvidia, the chipmaker, received a boost after a price-target hike. As the market prepared for economic data releases and the start of a new earnings season, major banks were expected to report their quarterly results. Various stocks, including Carvana, Meta Platforms, and Monday.com, garnered attention in the current stock market climate. Investors are closely monitoring the performance of tech giants like Tesla and Palantir, as well as the upcoming testimony of Fed chief Jerome Powell and the release of inflation data, which are key factors influencing the market's direction. While the stock market has reached new highs, concerns about overbought stocks, a potential pullback, and the dominance of a few large tech companies persist. However, analysts remain optimistic about the prospects of chipmaker Nvidia, as demand for their AI platform and upcoming Blackwell series processors continues to be robust.

Market Focus: Inflation, Powell's Testimony, and Bank Earnings ... Investor Sentiment

Investors are gearing up for a pivotal week as key events like the release of June's Consumer Price Index (CPI), Federal Reserve Chair Jerome Powell's semiannual testimony, and major banks' second-quarter earnings reports take center stage. Market sentiment is leaning towards a potential interest rate cut in September, with expectations rising following signs of cooling inflation and slowing job growth. The upcoming earnings season will provide insights into whether the surge in megacap stock prices aligns with their actual performance, influencing investor decisions. With markets already pricing in a 70-72% chance of a rate cut, the pressure is on the Fed to strike a delicate balance to avoid triggering a recession while supporting economic growth.

The press radar on this topic:

The Street
9. Juli 2024 um 22:08

Stock Market Today: Stocks higher into jobs data; Tesla extends run TheStreet Daily Newsletter

Finance
Economy
Technology
U.S. equity futures rose slightly ahead of the June jobs report, which is expected to show a modest decline in job growth and slower wage gains. Stocks extended gains earlier this week, with the S&P 500 reaching a new record high. Chip stocks could see early momentum following an update from Samsung forecasting a surge in operating profits. Investors are closely watching the jobs data for signs of cooling inflation that could influence the Federal Reserve's rate decisions.
The Street
10. Juli 2024 um 22:08

Analyst revamps S&P 500 target ahead of CPI inflation report TheStreet Daily Newsletter

Finance
Economy
Wall Street analyst John Stoltzfus has revised his S&P 500 price target upwards, citing stronger-than-expected corporate earnings, a robust domestic economy, and gains in megacap tech stocks. The S&P 500 has already reached 34 all-time highs this year, with a year-to-date gain of over 17%. However, concerns remain about the concentration of megacap stocks and whether the underlying market performance warrants such consistent gains. Stoltzfus believes the current bull market has legs, with slow..
The Street
10. Juli 2024 um 22:08

Analysts reboot Google parent stock price target ahead of earnings TheStreet Daily Newsletter

Economy
Technology
Finance
Analysts have raised the price target for Google parent Alphabet's stock ahead of the company's upcoming earnings report. The analysts expect a solid second quarter for Alphabet, driven by strength in search and cloud services, as well as the integration of the company's AI model Gemini across its ecosystem. However, they also note potential risks, including the launch of a new web search product by OpenAI and the ongoing antitrust cases against Google.
Yahoo Finance
8. Juli 2024 um 20:34

Top Wall Street strategist explains why he's abandoning an S&P 500 target

Finance
Economy
Technology
Piper Sandler, a major Wall Street firm, has decided to abandon providing year-end price targets for the S&P 500 index. The firm's co-chief investment strategist, Michael Kantrowitz, explained that the index no longer truly reflects the overall stock market's performance, as a small group of high-performing tech stocks have a disproportionate influence on the index's returns. Instead, Piper Sandler recommends focusing on 'quality at a reasonable price' by identifying companies that outpace their..
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