Wall St ends higher, extending rally ahead of Jackson Hole
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- Wall St rises on the day but falls for the week; bond yields and Iran in focus
- UBS says bull market has further to run
- S&P 500 may pull back before midterms, but Citi says buy the dip
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- Applied Optoelectronics sets up $600M at-the-market stock offering
- Fannie Mae loses at least 10 senior executives amid departures - WSJ
- Wall St rises on the day but falls for the week; bond yields and Iran in focus
- One killed, three injured when man attacks Swedish school with sword
- Morgan Stanley course-corrects their semiconductor equipment outlook on demand
Citi sticks to 5600 year-end S&P 500 target as earnings wind down
August 19, 2024 7:43 AM EDTCiti analysts have reaffirmed their bullish outlook for the S&P 500, maintaining a year-end target of 5600 despite some moderation in growth expectations for the second half of the year.
This optimism follows a better-than-expected earnings season in Q2, where S&P 500 earnings grew by 10.5% year-over-year, surpassing the anticipated 8.1% growth.
According to Citi, the "Mag 7" group of tech giants, which includes companies like Apple and Microsoft, played a significant role... More
