The S&P 6,000 calls are starting to feel reasonable: Morning Brief
Published On Sep 24, 2024, 6:00 AM
Wall Street shows bullish sentiment as the S&P 500 nears the 6,000 mark, driven largely by anticipated interest rate cuts by the Federal Reserve. Analysts are predicting the index will reach or even surpass this milestone this year, with some like BMO Capital Markets' Brian Belski raising their year-end targets to 6,100. This bullish outlook is supported by strong performance across a broader range of stocks, aside from the largest tech firms, pointing to a more sustained market growth due to underlying economic strength.
Stock Forecasts
SPY
Positive
Given the current trends in the S&P 500 and the bullish sentiment from analysts, there's a strong likelihood that the index will either reach or exceed the 6,000 mark by the end of the year. This collective optimism, combined with expectations of future earnings growth, makes investment in the S&P 500 ETFs appealing.
Related News
Capitalist Pig hedge fund manager Jonathan Hoenig weighs in on market rallies, his concern for everyday Americans amid inflation, and his stock pick.
Jamie Dimon warns of 'critical issues' that could affect US economy
Oct 11, 2024, 12:25 PM
JPMorgan Chase & Co. chief Jamie Dimon on Friday sounded the alarm about "critical risks" to the U.S. economy in the bank's third quarter earnings report.
Slatestone Wealth Chief Market Strategist Kenny Polcari discusses the market rallying following the inflation report, Jamie Dimon's warning of geopolitical risks, and how he fared during Hurricane Milton.