Global S&P Futures mixed in premarket
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- Nasdaq notches record-high close, AI optimism reignites and Treasury yields retreat
- Meta AI agent ‘Muse’ triggers massive tech rally as chips and Wall Street soar
- Oil price dips to $100 on hopes of US-Iran diplomacy, partial recovery in Saudi exports
- Paramount, Warner Bros jump on report of settlement progress in merger fight
- Investors may be underpricing how far rate hikes could go, Deutsche says
- Far-left party wins Berlin election, pledging to nationalise housing
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- Meta AI agent ‘Muse’ triggers massive tech rally as chips and Wall Street soar
JPMorgan: Will the more Defensive sector performance, seen so far in Q2, have legs?
June 17, 2024 11:55 AM EDTJPMorgan analysts believe the outperformance of defensive sectors in the second quarter will continue, in contrast to their lagging performance in Q1.
In a note Monday, the firm argues for a barbell approach favoring defensive sectors and commodities.
"Key bond proxy Defensive sectors - Utilities, Real estate and Staples - were the 3 worst performers in Q1," the note acknowledges. However, Q2 has seen a reversal, with... More
Evercore raises S&P 500 2024 year-end price target to 'Street high' 6,000
June 17, 2024 7:29 AM EDTEvercore ISI analysts increased their year-end price target for the S&P 500, citing the transformative power of artificial intelligence (AI).
In their note titled "The AI Revolution is in the Early Innings," Evercore ISI boosted their target to 6,000, a Street high, up from their previous estimate of 4,750.
This bullish outlook rests on several factors, according to Evercore ISI. The lingering effects of the... More
