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☆ Asia-Pacific markets are mostly lower as investors await key economic data from China
▼ + stars: | 2024-05-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets took a breather after rallying in the previous session, as investors await key China data to assess the state of the world's second largest economy. China data, including new house prices, urban unemployment and retail sales figures for April, is due later in the day. Russian President Vladimir Putin, who is on a two-day state visit to China, said at a press conference that discussions had been "warm and comradely" and had shown the importance of the two countries' relationship. Singapore will also release its non-oil domestic export figures for April, with NODX expected to fall 10% year on year.

Persons: Vladimir Putin, NODX Locations: Asia, Pacific, China, Singapore

☆ The Dow tends to take a breather after surpassing big, round numbers
▼ + stars: | 2024-05-17 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Now that the Dow Jones Industrial Average has made headlines by crossing the 40,000 level for the first time ever on Thursday, what comes next? History shows the 128-year-old-average tends to pull back a bit after crossing large, round number thresholds. "History tends to confirm that the market typically takes a breather after eclipsing millennium milestones." Bear market declines of 20% or more also happened just 5% of the time. .DJI 1Y mountain The 30-stock Dow crossed the 40,000 level on Thursday after flirting with the threshold in April.

Persons: Sam Stovall, Stovall, Dow Organizations: Dow Jones, Dow, Walmart, Nasdaq Locations: 39,8907.88

☆ Analysis: Cohen gets a breather after bruising cross-examination as Trump looks on
▼ + stars: | 2024-05-15 | by ( Stephen Collinson | ) edition.cnn.com time to read: +8 min

Blanche took Cohen through a long list of the insults he’s unleashed at Trump since becoming estranged from his former mentor, highlighting his penchant for serial lying. He drew jurors’ attention to a social media post in which Cohen wore a T-shirt that depicted Trump in jail, as he spun a narrative of bias and obsession. A key legal conundrum is whether prosecutors have so far succeeded in validating the legal theory behind the case. That foreboding realization was exacerbated by a new posse of Trump supporters at the courthouse on Tuesday, including House Speaker Mike Johnson. While Cohen’s reluctance to offer yes-and-no answers came across at times as flippant and confrontational, he did not appear to say or do anything to torpedo the prosecution case.

Persons: Donald Trump’s, Michael Cohen, don’t, Cohen, ”, Todd Blanche, president’s, didn’t, he’s, Trump, Stormy Daniels, Blanche, ” Cohen, he’d, ” Blanche, douchebag, ” Michael Moore, “, Moore, Juan Merchan, Will Trump’s, ” Shira Scheindlin, CNN’s Jake Tapper, ” Scheindlin, “ Cohen, Mike Johnson, ” Johnson, Andrew McCabe, Cohen’s, ” Moore, Daniels, Susan Hoffinger, reimbursements, ’ ” Cohen Organizations: CNN, GOP, Trump, Middle, Middle District of, Louisiana Republican, Defense, FBI Locations: Ohio, Kentucky, Middle District, Middle District of Georgia, New York, Louisiana, Blanche, Manhattan

☆ Goldman Sachs: These 21 growth stocks can soar if inflation takes a breather
▼ + stars: | 2024-05-14 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

Stocks sold off last month as price growth came in higher than expected. Goldman Sachs shared 21 growth stocks that can take off if inflation misses estimates. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. US equities have ticked up in May as traders get more optimistic about the path of price growth and interest rates. This story is available exclusively to Business Insider subscribers.

Persons: Stocks, Goldman Sachs, — Organizations: Investors, Service, Federal Reserve, Index, Business

☆ An art market full of cracks is about to face a $1 billion test
▼ + stars: | 2024-05-10 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Art auction sales at Christie's, Sotheby's and Phillips over the next two weeks are expected to total $1.2 billion, down 18% from a year ago and nearly half the total for the May 2022 sales, according to ArtTactic. It extends a recent decline for the art market from its post-Covid peak, when cheap money, a booming stock market and fiscal stimulus saw record sales. It's the buyers showing up and what the work will sell for that will define our perception of the art market right now. Price pressuresDealers and art experts say the auction art market is stalled over price, with sellers not willing to get a lower price than they might have gotten at the peak of the market in 2021-2022. "The question they're asking is, 'Should we buy in to the art market right now?'"

Persons: Robert Frank, Phillips, Paul Allen, Brooke Lampley, Buyers, Sellers, Philip Hoffman, CNBC's Robert Frank, Andy Warhol, Jean, Michel Basquiat, Crystal Lau, Andrew Fabricant, It's, Hoffman, Francis Bacon's, George Dyer, Bacon, Dyer, Michel Basquiat's Organizations: Sotheby's, Fine Art Group, CNBC Dealers, CNBC Locations: —, Gagosian

☆ The $1 billion test for the art market
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe $1 billion test for the art marketThe May sales at the major auction houses are expected to be down 17% from last year, as wealthy buyers and sellers take a breather from the frenzied prices of 2021 and 2022. CNBC's Robert Frank reports.

Persons: CNBC's Robert Frank

☆ Space Force Guardians became the first 'space cowboys' after completing the Army's rigorous spur ride challenges
▼ + stars: | 2024-05-07 | by ( Thomas Novelly | ) www.businessinsider.com time to read: +6 min

Three Space Force Guardians earned their spurs after finishing a series of rigorous combat tests. They completed the Army Cavalry Spur Ride, becoming the US military's first 'space cowboys.' AdvertisementA US Space Force spur ride candidate hydrates during a spur ride at Fort Bliss, Texas. AdvertisementUS Space Force spur ride candidates move a litter with a BGM-71 TOW, low crawling through the sand at Fort Bliss, Texas. A US Space Force spur ride candidate takes a breather before continuing through an obstacle during a spur ride at Fort Bliss, Texas.

Persons: —, Bliss, Bradley Evans, Military.com, Evans, David Poleski, Jordan Savage, Savage, Jackson Jennings, Dan Reynolds, there's, It's, I'm Organizations: Space Force Guardians, Army Cavalry, US, Service, Stetson, Army, Space Force, White, Guardians, Spc, Space Systems Command, Garmin, Force, US Space Force, Fort, Space Force Guardian, Ranger, — Locations: West Texas, El Paso , Texas, Fort Bliss , Texas, Los Angeles, rucking, Fort Jackson, South Carolina

☆ I was fired from a new job in less than a week after I started. It taught me not every opportunity is a good opportunity.
▼ + stars: | 2024-05-03 | by ( Sarah Dolezal | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a conversation with Calli Nguyen, a 24-year-old social media marketer from Baton Rouge, LA, about getting fired after less than one week of work. I now feel that getting fired after less than a week of employment was a blessing in disguise. The experience taught me that not every opportunity is a good opportunity. Afterall, I did list my social media marketing skills on my résumé. AdvertisementMy boss wanted her social media marketing to look a certain way: showcasing stock photos of attractive women with outdated fonts.

Persons: —, Calli Nguyen, It's, I've, Afterall, Ma'am, Z, it's, doesn't Organizations: Service, Business Locations: Baton Rouge , LA

☆ 3 of Wall Street's biggest banks share what's next for markets after the largest earnings surprise in years — and 25 top stocks to invest in for stable, long-term profit growth
▼ + stars: | 2024-05-02 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Large technology stocks have continued to be a key driver of earnings growth. Those calls are based on the firms' expectation that the economy will continue to grow despite uncomfortably high interest rates. Bullish firms concur that elevated interest rates are a serious concern for investors. "Should the outlook for earnings growth deteriorate, the recent stretch of quality outperformance will likely continue and also expand to include stocks with stable growth," Kostin wrote. Along with each is its ticker, market capitalization, sector, 2024 expected earnings growth rate, and 10-year EBITDA growth variability rate, according to Goldman Sachs.

Persons: Morgan Stanley, That's, Jonathan Golub, David Lefkowitz, Stocks, they've, Mike Wilson, Morgan, 19.3x, Goldman Sachs, David Kostin, Wilson, Kostin, Russell Organizations: UBS, Business, UBS Beats, UBS Global Wealth Management, Companies, Federal Reserve

☆ Here are Thursday's biggest analyst calls: Nvidia, Meta, Tesla, IBM, UPS, Five Below, Amazon, TJX Companies and more
▼ + stars: | 2024-04-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Evercore ISI reiterates Nvidia as outperform Evercore ISI said investors should use any weakness in the stock to buy the dip. HSBC upgrades UPS to buy from hold HSBC said UPS is "getting back to earnings growth" following the company's earnings report. Bank of America downgrades Deckers to neutral from buy Bank of America said it sees a better risk/reward elsewhere in the firm's coverage. Bank of America reiterates IBM as buy Bank of America said it is sticking with its buy rating following earnings on Wednesday. Deutsche Bank reiterates Tesla as hold Deutsche Bank raised its price target on the stock to $136 per share from $123.

Persons: Sherwin, Williams, Bernstein, Goldman Sachs, Wells, Wells Fargo, Morgan Stanley, Ford, Needham, D.A, Davidson, ServiceNow, Tesla Organizations: Motors, GM, Nvidia, ISI, AMD, JPMorgan, Monster Beverage, Beverage, AMC, HSBC, UPS, USPS, Companies, UBS, UDR, Amazon, AWS, Bank of America, Meta, Laboratories, Manhattan Associates, IBM, Deutsche Bank Locations: 2Q24, Dearborn, Manhattan

Commercial and residential buildings seen from the rooftop of the Lotte Corp. World Tower at sunset in Seoul, South Korea, on Tuesday, Nov. 28, 2023. Asia-Pacific markets took a breather after two straight days of rallies, mirroring moves on Wall Street ahead of first-quarter gross domestic product figures from the U.S. due Thursday. In Asia, investors will assess South Korea's advance first-quarter GDP growth of 3.4% year on year, the highest quarterly growth since the fourth quarter of 2021. Separately, the Bank of Japan kicks off its monetary policy meeting Thursday as investors monitor for action against yen weakness. The yen slid past the 155 mark against the U.S. dollar on Wednesday, hitting a fresh 34-year low.

Organizations: Lotte Corp, Bank of Japan, U.S Locations: Seoul, South Korea, Asia, Pacific, U.S

☆ Breaking down the market sell-off and odds this 5% pullback turns into a 10% correction
▼ + stars: | 2024-04-20 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

Hard-to-handicap geopolitical conflict never helps, even if it rarely serves as the key swing factor in a market trend. .SPX 1Y mountain S & P 500, 1-year And then there was simply the elevated valuation and over-optimistic sentiment that had built up over that five-month, 28% rally that culminated at the end of March. Over the long span of time, about 40% of all 5% market pullbacks deepened into full 10% corrections. A 10%-ish correction from the S & P 500 high of 5254 would pull the index down below 4800, the former record high from early 2022, and so would be a test of the first-quarter breakout. Last week's 3% decline took the index back to Feb 21 and thereby closed the "Nvidia gap," the 100-point S & P 500 pop the day after Nvidia's blowout fourth-quarter earnings report.

Persons: Warren Pies, Jerome Powell Organizations: Nasdaq, 3Fourteen, Nvidia, Big Tech, Treasury, Silicon Valley Bank Locations: Silicon

☆ Dollar takes a breather as investors ponder U.S. rates outlook
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: +3 min

The dollar was soft on Thursday as traders assessed the U.S. interest rates outlook in the wake of comments from Federal Reserve officials that cemented expectation of monetary settings remaining restrictive for a while longer. The dollar was soft on Thursday as traders assessed the U.S. interest rates outlook in the wake of comments from Federal Reserve officials that cemented expectation of monetary settings remaining restrictive for a while longer. The yen strengthened 0.05% to 154.29 a dollar but remained close to the 34-year low of 154.79 touched on Tuesday. Japan last intervened in the currency market in 2022, spending an estimated $60 billion to defend the yen. Elsewhere, the Australian dollar was little changed at $0.6439, while the New Zealand dollar eased a bit to $0.5914 after spiking 0.6% on Wednesday.

Persons: Sterling, Michelle Bowman, Kristina Clifton, Tony Sycamore Organizations: Federal Reserve, Traders, Market Committee, Federal, Fed, Commonwealth Bank of Australia, IG, Japan, New Zealand Locations: U.S, Japan, South Korea, Tokyo, Seoul

☆ 'Reality is sinking in': Why this selloff is the start of a correction — and 3 moves to protect against losses, according to a market-calling CIO at $1.5 trillion Morgan Stanley Investment Management
▼ + stars: | 2024-04-17 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Read previewUS stocks may have already peaked, warns a Morgan Stanley investment chief with a penchant for making successful market predictions. Jim Caron, who oversees Morgan Stanley Investment Management's portfolio solutions group, may want to consider buying a lottery ticket. And considering how much could go wrong in markets, stocks may take a while before rebounding to record highs. Quality stocks in those less-loved sectors should stand out once markets bottom, he said. "The best cure for high yields is high yields because as yields go higher, it becomes like a high-quality hedge to a downturn in the market," Caron said.

Persons: —, Morgan Stanley, Jim Caron, Caron, shouldn't, Morgan Stanley's, We're, they'll, We've Organizations: Service, Morgan Stanley Investment, Business, Federal Reserve

☆ Market fear signals are flashing red as stocks pull back from record highs
▼ + stars: | 2024-04-16 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Several major gauges of fear in the market are reflecting increased alarm from investors. @VX.1 1Y mountain The VIX over the past year At the same time, CNN's Fear and Greed Index has tipped into "fear" territory this week. Rising oil prices have also weighed on the stock market, as commodity traders bought in on expectations of escalating conflict in the Middle East. But he said the key threat to this outlook is if the conflict in the Middle East further spirals. "But, the caveat is, if things really go sideways in the Middle East, that could change the calculus."

Persons: Goldman Sachs, Alex McGrath, You've, Dow, Jason Heller, Heller Organizations: Federal Reserve, Nasdaq, Dow, Treasury, Coastal Wealth Locations: East, Iran, Israel

☆ 'We've never seen this many extremes': Strategists warn of dot-com bubble similarities as expensive US stocks struggle — but this 7-part strategy can still outperform
▼ + stars: | 2024-04-13 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

From late October through March, the S&P 500 enjoyed a virtually uninterrupted 27.6% rally based on better-than-expected earnings and economic data. And while it's still well below the dot-com bubble levels, it's still too close for comfort for many investors. Related story"Those higher rates are starting to push back on elevated valuations for stocks right now," Saglimbene said. "They're all much cheaper on an earnings basis than those Magnificent 7 companies," Saglimbene said. "So I think if we avoid a recession this year, the narrative will change to a broadening of companies and sectors that can participate in earnings growth this year."

Persons: aren't, Anthony Saglimbene, Rick Pitcairn, Pitcairn, it's, we've, Raheel Siddiqui, Neuberger Berman, Siddiqui, Jon Wolfenbarger, Albert Edwards, Bill Smead, James Ragan, DA Davidson, Ragan, Saglimbene, Indrani, she's, De, Davidson, Siddiqui's Organizations: Ameriprise, Business, DA, FTSE Russell, Investors Locations: Ameriprise

☆ Nvidia is a buy on the pullback and headed toward a $1,150 target, according to chart analyst
▼ + stars: | 2024-04-12 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

A flagship stock like Nvidia (NVDA) takes a month-long breather and many investors want to throw in the towel on the uptrend and say enough is enough. The last time we spoke about NVDA was on Feb 21st just before the earnings report, while I was on a ski vacation. Turning down to the 195-minute chart (that is a half-day chart), we can fine tune our entry on this idea. I added a one-half position size to our short-term Active Opportunities portfolio with stops just below the $832 low. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: NVDA, it's, Elliott, Todd Gordon, Gordon Organizations: Nvidia, PPI, Inside Edge, Inside Edge Capital Management

☆ Wells Fargo hikes S&P 500 year-end target to 5,535, says 'melt-up' in second half likely
▼ + stars: | 2024-04-08 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Expect the stock market's run to record highs to continue as the year goes on, according to Wells Fargo. Christopher Harvey, the bank's head of equity strategy, raised his 2024 S & P 500 target to 5,535 from 4,625, implying a 6.4% upside from here. Wells Fargo' new forecast is one of the highest on the Street, surpassing the 5,500 target from John Stoltzfus at Oppenheimer. .SPX 1Y mountain S & P 500 The market's 2024 took a breather as of late as investors reassessed the Federal Reserve's path to cut interest rates. The S & P 500 declined nearly 1% during the period, its biggest weekly loss since early January.

Persons: Christopher Harvey, Harvey, Wells Fargo, John Stoltzfus Organizations: CNBC Pro Market, Survey, Dow Jones Locations: Wells Fargo, Oppenheimer

☆ Major driver of the AI trade takes a breather. But Nvidia's business is still full steam ahead
▼ + stars: | 2024-04-05 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The major force behind this year's AI trade has cooled off in recent weeks. "For three decades we've pursued accelerated computing, with the goal of enabling transformative breakthroughs like deep learning and AI," Huang said at GTC. So, as the benefits of AI trickle through the "AI supply chain," look for the benefits of AI to spread and earnings to grow as a result. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jensen Huang, Huang, we've, It's, Jim Cramer, Nvidia –, We're, hyperscaler, Jack, McDonald's, Jim, That's, Jim Cramer's, Justin Sullivan Organizations: Nvidia, GTC, Blackwell, Apple, Microsoft, Alphabet's Google, Google, Club, Web Services, Super, CNBC, Intelligence, SAP Center Locations: U.S, China, San Jose , California

☆ I've been laid off 5 times. The first one was devastating — but I wouldn't have reinvented myself without them.
▼ + stars: | 2024-04-05 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +7 min

AdvertisementWhen I first started working, I could not have imagined that I'd have to live through layoffs five times over eight years. I've worked in magazine media, startups, and tech. AdvertisementI am very loyal to all of the people that I've worked for and worked with. I started working as a director of marketing content strategy for Dropbox in August 2020. What I've learned after five layoffs in less than eight years is that no industry is immune to instability.

Persons: Betty Wong Ortiz, She's, Ortiz, —, I've, Rocco DiSpirito, I'd, We'd, Meredith, It's Organizations: Service, Fitness Magazine, Meredith Corporation, Blink Health, Dropbox, Blink Locations: Lake George , New York, Dropbox

☆ Dollar takes a breather ahead of U.S. jobs data
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: +3 min

European inflation came in softer-than-expected on Wednesday, reinforcing expectations for a European rate cut in June. "The speech broadly affirmed the Fed is on track to cut rates this year, with data determining the timing. The Australian dollar broke above its 200-day moving average as the U.S. dollar dipped overnight and was steady at $0.6568 on Thursday. The Aussie is at a five-month high on the New Zealand dollar with traders expecting New Zealand rate cuts beginning in August but Australian rates on hold until November. The New Zealand dollar rose 0.7% on the greenback overnight to regain a foothold above $0.60.

Persons: Jerome Powell, Sterling Organizations: Federal, Traders, ANZ, Australian, U.S, New Zealand, . U.S, Treasury, PMI, Central Bank Locations: Zealand, ., Europe

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Super Micro, Meta, Wynn, Reddit, Coinbase, GM & more
▼ + stars: | 2024-04-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Mizuho reiterates Nvidia as a top pick Mizuho says Nvidia is still a top idea at the firm. Morgan Stanley initiates Mural Oncology at overweight Morgan said in its initiation of the biotech company that it sees a long "cash runway" lasting through 2025. Morgan Stanley downgrades Block to underweight from equal weight Morgan Stanley sees growth headwinds for the payment tech company. Morgan Stanley upgrades Zeta to overweight from equal weight Morgan Stanley said the marketing technology company has an underappreciated valuation. " Morgan Stanley reiterates Tesla at overweight Morgan Stanley lowered its price target to $310 per share from $320. "

Persons: Bernstein, Reddit, underperform Bernstein, Raymond James, Raymond James downgrades Bumble, Barclays downgrades Ferrari, it's, Mizuho, Goldman Sachs, Goldman, Morgan Stanley, Morgan, Wolfe, underperform Wolfe, Piper Sandler, Piper, Synopsys, Morgan Stanley downgrades Block, Dave, Buster's, Jefferies, Zeta, Oppenheimer, Ball, Wayfair, Wynn, bullish, Tesla, Goldman Sachs downgrades Hertz Organizations: Citi, Barclays, Ferrari, Nvidia, JPMorgan, Avis, UBS downgrades Bank of America, UBS, Apple, AstraZeneca JPMorgan, AstraZeneca, Amazon, AWS, Meta, General Motors, GMC, Chevrolet, Buick, GM, DFS, Mizuho, Eversource Energy Locations: Avis, MURA, Charlotte, Wayfair, Capital, Macau

☆ U.S. crude oil hovers around $85 as traders take stock of rally
▼ + stars: | 2024-04-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

A flare stack burns beyond oil storage tanks at the Taneco Oil Refining and Petrochemical complex, operated by Tatneft PJSC, in Nizhnekamsk, Tatarstan, Russia, on March 5, 2019. Crude oil futures were flat Thursday, taking a breather as traders took stock of the market after prices advanced more than 2% this week to hit the highest level since October. The West Texas Intermediate contract for May delivery gained 2 cents to $85.45 a barrel, while the Brent contract for June delivery was unchanged at $89.35. Oil prices have rallied this year, booking three consecutive months of gains with U.S. crude adding 19% while Brent is up about 16%. The rally comes as the wars in Eastern Europe and the Middle East raise renewed fears about supply disruptions.

Persons: Tatneft PJSC, Brent Organizations: Oil Refining, Petrochemical, The West Texas Intermediate Locations: Nizhnekamsk, Tatarstan, Russia, Eastern Europe, Ukraine

☆ Oil prices edge lower after booking strong first quarter
▼ + stars: | 2024-04-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

An energy installation on a property leased to Devon Energy Production Company by the Catholic Archdiocese of Oklahoma City is seen near Guthrie, OklahomaCrude oil futures ticked slightly lower Monday, taking a breather after a strong first quarter. The West Texas Intermediate contract for May delivery lost 33 cents, or 0.4%, to $82.84 a barrel in the first day of trading for the second quarter. The Brent contract for June delivery dropped 40 cents, or 0.49%, to $86.57 a barrel. U.S. crude and Brent also booked three consecutive months of gains. WTI is up 15.5% for the year while Brent is up 12.3%.

Persons: Brent, WTI Organizations: Devon Energy Production Company, Catholic Archdiocese of, West Texas Intermediate Locations: Catholic Archdiocese of Oklahoma, Guthrie , Oklahoma

☆ RBC raises S&P 500 forecast to 5,300, sees even more upside possible
▼ + stars: | 2024-03-28 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The S & P 500 has more room for upside in 2024, according to RBC Capital Markets head of U.S. equity strategy Lori Calvasina. The upgrade comes as the S & P 500 wraps up a monster start to the year. The strategist also expanded her 2024 earnings forecast to $237 from $234, which underpins her overall higher outlook for the S & P 500. Calvasina also laid out her bull case, which has the S & P 500 soaring to 5,400, nearly 3% above Wednesday's close. The current signal is little changed from her January S & P 500 forecast, where she also said U.S. equities appeared to be overbought.

Persons: Lori Calvasina, Calvasina Organizations: RBC Capital Markets, CNBC's Market, Survey

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