Full Wealth raises the year-end target for the S&P 500 Index

robot
Abstract generation in progress
Golden Financial News reported that on June 17, Wells Fargo Securities said that concerns about the macroeconomy have eased, sentiment has improved, and expectations of interest rate hikes have been priced in by the market. These factors will push the U.S. stock market higher. The firm has raised its year-end target for the S&P 500 index from 7,300 to 7,950, leaving room for about a 5% rise from the index’s closing level on Monday. As Wells Fargo raised its target, the United States and Iran are preparing to officially sign a temporary peace agreement in Switzerland on Friday. The agreement will end months of conflict and restore passage through the key Strait of Hormuz. Wells Fargo stock analyst Ohsung Kwon said that easing tensions between the U.S. and Iran is helping to alleviate macroeconomic concerns. He added that inflationary pressures resulting from higher oil prices may fade. In addition, market sentiment for the Nasdaq 100 index has remained stable in a neutral range, providing support for artificial intelligence (AI) stocks.
SPYX-0.44%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned