Latest inflation data provides potential for 'even greater upside' in the stock market rally
What recent changes did Julian Emanuel make to his year-end price target for the S&P 500, and what reasons did he cite for this adjustment?
Julian Emanuel, who leads Evercore ISI's equity, derivatives, and quantitative strategy, recently boosted his year-end price target for the S&P 500 to 6,000 from 4,750. He cited the promising inflation path and the “early innings” of the AI trade as the main reasons for moving his year-end target to the highest on Wall Street.
What is Jonathan Golub's year-end target for the S&P 500, and how does recent inflation data influence his outlook?
Jonathan Golub's year-end target for the S&P 500 is 5,600. The recent inflation data, showing the most significant progress toward the Fed's 2% goal since the start of the year, has increased his confidence in the potential for interest rate cuts4. This, in turn, provides the potential for even greater upside to his year-end outlook.
How did the S&P 500 and Nasdaq perform in terms of consecutive record closes last week, and what data influenced this performance?
The S&P 500 and Nasdaq hit four straight record closes last week, influenced by softer-than-expected inflation readings for both consumer and wholesale prices. The positive performance was also attributed to the promising inflation path and the "early innings" of the AI trade.