RBC raises 12-month S&P 500 target to 7,750 as more Wall Street firms turn bullish on stocks
RBC Capital Markets has become the latest Wall Street firm to signal confidence in US stocks, establishing a new 12-month price target for the S&P 500 (^GSPC) at 7,750.
RBC did not specify a prior 12-month price target as the firm has shifted to a rolling 12-month framework rather than a traditional year-end forecast.
Read MoreFundstrat’s Tom Lee Bullish on Crypto and Stocks This Month Despite Market Dip – Here’s Why
Fundstrat’s Tom Lee isn’t worried yet.
In a new interview with CNBC, Lee says he’s still bullish on stocks and crypto going into the end of the year.
The main reason for his unflappability? A predicted tailwind from the U.S. Federal Reserve.
“The Fed is set to cut in December,
Read MoreSynopsys: Nvidia Investment Is What I've Been Waiting For (Rating Upgrade)
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Julian Lin is a financial analyst. He finds undervalued companies with secular growth that appreciate over time.
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Read MoreNVIDIA (NVDA) takes $2 billion stake in chip design company Synopsys (SNPS)
In addition to buying up $2 billion of Synopsis common stock, NVIDIA will collaborate on new marketing and engineering pursuits.
NVIDIA has announced a new deal with chip design software company Synopsys in which the AI/GPU/CPU focused company will invest $2 billion into the latter’s common stock.
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Read MoreHow Warren Buffett's 'Turn Every Page' Method Can Boost Your Investment Returns
Key Takeaways
- Buffett, an avid reader, says one of the keys to being a good investor is “turning every page.”
- This means examining every sentence of investment literature published by publicly traded companies.
- Reading and analyzing everything can help you to better understand companies and increase the chances of making the right investment choices.
The Burst
Time to Buy Black Gold?
In spite of recent volatility, energy stocks have historically provided strong returns during periods of crude oil price recovery. With crude oil prices nearing the lower end of their range and a bullish shift in fundamentals, is now the time to begin long positions in the energy sector?
Crude oil is approaching the $70 per barrel mark,
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Read MoreThe Ivy
Is This High Growth Stock Breaking Out?
Billionaire Stan Druckenmiller was once asked how he thinks about performance and his answer was quite insightful. Most traders might say something like “I aim to make 15% a year” or some other specific figure, but Stan’s answer was I like to “compare myself to the opportunity set” and beat it, meaning whatever the market is doing he likes to ensure he’s generating higher returns,
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Read MoreThe Spotlight
Tootsie Roll Highlights Crazy Market
The current S&P 500 bear market was officially announced on June 13, 2022 and it doesn’t seem as if the bear market is over yet. A sustained recovery will likely commence only once interest rates peak, and further rises are no longer expected. In spite of the general market malaise, some stocks are bucking the trend when it comes to valuation metrics.