Connect with us

Politics

This Wall Street firm is sticking to its S&P 500 price target. Here’s why a correction is said to be late.

Published

on

 


Nothing like higher prices to change the minds of Wall Street investors and analysts.

Witness the recent surge of the S&P 500 SPX,
-0.42%
price targets. Wells Fargo has gone from being one of Wall Street’s biggest bears to being a bull. Bank of America reluctantly surrendered this week, raising its year-end target to 4,250 from 3,800, even as U.S. equity strategy chief Savita Subramanian warned that might not work out. stop now. But when it ends, it could end badly.

So what could be more noticeable is when a Wall Street company sticks to its guns. Mizuho Securities USA, a major dealer in Treasury securities, still says the S&P 500 will end the year at 4,400. The key to Mizuho’s opinion is that companies believe the Federal Reserve is taking a precautionary rather than a reactive approach. , with the Fed increasingly concerned that supply chain disruptions could lead to more sustained price increases.

This in turn will result in the dollar as measured by the DXY DXY,
+ 0.12%
index to rise to 95, which will then increase foreigners’ interest in long-term dollar assets for a return, said Steve Ricchiuto, its chief economist in the United States. He says the curve will flatten by the end of the year, with the TMUBMUSD10Y at 10 years,
1.336%
amounting to 1.5%, while the 2-year TMUBMUSD02Y,
0.220%
climbs to 0.5%.

A flatter curve, a stronger dollar, and the risk of an earlier takeoff all argue in favor of a long overdue equity market correction. outdated, he said.

This background suggests a move away from small and mid-cap stocks to move back to larger-cap companies. We also have a preference for growth over cyclicals, and suggest reducing exposure to financials, he adds. Growth could disappoint expectations in 2022, and tax hikes could weigh on hiring long before an increase in transfer payments can revive demand.

Biden speaks with Xi

President Joe Biden, after markets closed, delivered a speech on tackling the COVID-19 pandemic, in which he ordered all federal executive employees and contractors to be vaccinated, and will demand of employers with 100 or more workers that they require vaccination or weekly testing.

The White House also said Biden spoke to Chinese President Xi Jinping for the first time in seven months. The two leaders had a broad strategic discussion during which they discussed areas where our interests converge and areas where our interests, values ​​and perspectives diverge, according to the reading of the call.

Affirm AFRM,
+ 32.45%
stocks jumped more than 20% in after-hours action, after the installment payment provider raised its revenue forecast.

Wells Fargo WFC,
+ 0.18%
was fined $ 250 million by Currencyover’s Office of the Comptroller of Home Lending Practices, but also said that the Consumer Financial Protection Bureau’s consent order issued in September 2016 regarding sales practices at retail banks had expired.

Harvard University has said it will stop investing in fossil fuel companies.

Producer prices rose 0.7% in August, a tenth ahead of expectations, to bring the year-over-year increase to 8.3%, the Labor Department reported.

Regional Fed Chairmen Robert Kaplan and Eric Rosengren have said they will sell the individual stocks they hold, after controversy over the disclosure of their active stock transactions.

The steps

Helped by gains in Asia with a six-month high for the Nikkei 225 NIK,
+ 1.25%
US ES00 equity futures contracts,
-0.36%

NQ00,
-0.35%
were stronger. The 10-year Treasury yield was 1.32%.

Random readings

Moneyball Analysis struggle to cope with forest fires.

The Karens unite against the use of their name like an insult.

Need to Know starts early and is updated until the opening bell, but sign up here to receive it once in your inbox. The emailed version will be sent at approximately 7:30 a.m. Eastern Time.

Want more for the day ahead? Sign up for The Daily of the Barrons, a morning investor briefing, featuring exclusive commentary from the editors of Barrons and MarketWatch.

Sources

1/ https://Google.com/

2/ https://www.marketwatch.com/story/this-wall-street-firm-is-sticking-to-its-s-p-500-price-target-heres-why-it-says-a-correction-is-overdue-11631270767

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]