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BMO's Brian Belski raised his S&P 500 price target to 6,100, signaling 7% upside by year-end. The Fed's rate cut and favorable seasonal data support the bullish stance.
Weekly jobless claims data on Thursday reinforced the Fed's message of a strong labor market. Claims from last week ticked down 12,000 to 219,000, according to Labor Department data released Thursday.
With a $3.12 trillion market valuation, the AI-chip maker represents nearly 7% of the index, meaning any move in Nvidia stock can have a pronounced impact on the broader market.
Morgan Stanley lays out the stock market's best-case scenario for this week's Fed decision — and 2 areas to buy after the cut Filip De Mott September 16, 2024 at 1:27 PM
Stock market news live updates: Stocks deliver best weekly performance since November 2020 as S&P 500 jumps 6% from last week. ... Fed officials may also upwardly revise its projections for where ...
US stocks edged higher after their best week of 2024, driven by solid economic data. The S&P 500 gained nearly 4% last week, reflecting consumer resilience and a strong labor market.
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