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CFRA's Sam Stovall has emerged as one of the biggest bulls on Wall Street, seeing more room for the S & P 500 to run to a double-digit gain this year. This updated target marks one of the highest on the Street, behind only the 5,500 target from John Stoltzfus at Oppenheimer. It is also 6% higher than the average projection of 5,105, according to the CNBC Pro Market Strategist Survey , which rounds up the targets from the top 14 Wall Street strategists. .SPX YTD mountain S & P 500 The S & P 500 is up more than 9% this year, driven by the continuous rally in many megacap tech names. Stovall sees the S & P 500 hitting 5,610 in the next 12 months, which would translate into a 7.6% gain from Thursday's close of 5,214.
Persons: CFRA's Sam Stovall, John Stoltzfus, Stovall, he's, Jerome Powell, — CNBC's Michael Bloom Organizations: CNBC Pro Market, Survey, Federal Locations: Oppenheimer
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFRA's Sam Stovall on why he's raising his S&P 500 12-month price target by 8%Sam Stovall, CFRA chief investment strategist, joins 'Squawk Box' to discuss the latest market trends, why he's raising his S&P 500 12-month price target by 8%, state of the economy, and more.
Persons: Sam Stovall
CFRA's Sam Stovall anticipates the stock market can go higher even without rate cuts, but has the playbook to navigate a possible correction if one develops. The chief investment strategist expects the S & P 500 still has further upside. But he sees a bumpy road ahead, anticipating a consolidation of about 8% to 10% after the market's recent gains. "As a result, I think there is, after we get through this much-anticipated correction that history says is overdue, I think we do end up being higher by year-end," Stovall said. After such a pullback, however, the best-performing assets were in communication services, financials and technology, Stovall said.
Persons: CFRA's Sam Stovall, Stovall, CNBC's Organizations: Federal Reserve, NextEra Energy, Procter, Gamble
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets can rally without rate cuts this year, says CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist, joins 'Squawk on the Street' to discuss if equity markets can rally without rate cuts, what will drive the market's growth, and more.
Persons: CFRA's Sam Stovall Sam Stovall Organizations: CFRA Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're going through a 'digestive phase' right now in tech, says CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss the latest market trends, why he believes the S&P 500 is getting increasingly vulnerable to a meaningful sell-off, tech sector performance, the Fed's interest rate outlook, and more.
Persons: CFRA's Sam Stovall Sam Stovall Organizations: CFRA Research
It is time for investors to buckle up as a strong first quarter could be followed by a frightful year, according to CFRA's Sam Stovall. .SPX 1D mountain S & P 500 History shows investors should expect volatility can continue, according to Stovall. A strong first quarter typically suggests a good second quarter, the strategist found. After 13 of those 15 strongest first quarters, the S & P 500 registered "intrayear" declines of 5% or more. "So, in other words, this strong start implies a frightful yet fulfilling full-year performance for the S & P 500," he said.
Persons: Sam Stovall, Stocks, Stovall, CNBC's, Organizations: Fed
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is due for some sort of digestion of gains, says CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss the latest market trends, state of the economy, the Fed's interest rate outlook, and more.
Persons: CFRA's Sam Stovall Sam Stovall Organizations: CFRA Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe financial sector will benefit when the Fed starts cutting rates, CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist, joins 'Squawk on the Street' to discuss if a March rate cut is less than likely, how much tensions in the Middle East could raise inflation, and more.
Persons: Sam Stovall Sam Stovall Organizations: Fed, CFRA Research
Here's why CFRA's Sam Stovall is optimistic on small caps
  + stars: | 2023-11-22 | 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 EmailHere's why CFRA's Sam Stovall is optimistic on small capsSam Stovall, CFRA Research chief investment strategist, joins 'Squawk on the Street' to discuss why he believes small-caps will perform well going forward, what could hurt the earnings power of the small-cap companies, and more.
Persons: Sam Stovall Organizations: CFRA Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere may be earnings losses in energy, health care, and more, says CFRA's Sam StovallErik Nelson, Wells Fargo macro strategist, and Sam Stovall, CFRA chief investment strategist, join 'The Exchange' to discuss the Israel-Hamas conflict's market impact, the earnings outlook, and more.
Persons: CFRA's Sam Stovall Erik Nelson, Sam Stovall Organizations: Hamas Locations: Wells Fargo, Israel
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're in 'less than the first year' of a new bull market, says CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss the latest market trends, what to make of the current market correction, and more.
Persons: CFRA's Sam Stovall Sam Stovall Organizations: CFRA Research
August is shaping up to be a poor month for the Nasdaq Composite, but history suggests that it will only get worse before it gets better. The Nasdaq Composite is headed for its worst month since May, down more than 4%. The Dow Jones Industrial Average and the S & P 500 were down more than 2% and 3%, respectively. September is actually the only month out of the year that the Nasdaq Composite averages a negative return, as well as the lowest rate of advance. On Monday, however, the Nasdaq Composite appeared to consolidate somewhat from its August lows.
Persons: It's, Sam Stovall, Stovall, John Roque, NVDA, manna, sloppily, Roque, — CNBC's Michael Bloom, Gabriel Cortes Organizations: Nasdaq, Dow Jones Industrial, Nvidia, Research, Meta
A raft of economic data and big retail earnings reports next week will give traders insight into the strength of the consumer after a mixed batch of inflation data. "Next week is all about the consumer," said Shannon Saccocia, investment chief at NB Private Wealth. The Nasdaq Composite fell for a second straight week for the first time in 2023 after mixed inflation data this week, as well as Moody's downgrading several regional banks. July's consumer price index came in weaker than expected, but continued to show some underlying stickiness. Housing data expected to show strength Investors will also watch data on what has been a strong housing market.
Persons: Shannon Saccocia, Saccocia, , we've, John Porter, it's, Wealth's Saccocia, Kate Spade, Stuart Weitzman, Versace, Jimmy Choo, Michael Kors, That's, Sam Stovall, Stovall, CFRA's Stovall, Estee Organizations: Home Depot, Walmart, Federal Reserve, Nasdaq, Dow Jones, Newton Investment Management, FactSet, . Discount, TJX Companies, Ross, Homeowners, Price, Retail, Health, Home, Agilent Technologies, Housing, Manufacturing, TJX, Target, Cisco Systems, Philadelphia Fed, Applied, Deere, Co, Companies, Palo Alto Locations: U.S, NAHB, Housing States
New inflation data set for release in the week ahead could help Wall Street regain its footing. However, he does not expect that the inflation data releasing next week will be very threatening, even if they show a slight rise from the prior reading. A smattering of results will roll out in the week ahead including from major firms like the Walt Disney Company, which reports Wednesday. Other economic data Investors will digest other major economic data in the week ahead. Hourly earnings (July) Earnings: RL Friday, Aug. 11 8:30 a.m. PPI (July) 10 a.m. Michigan Sentiment preliminary (August)
Persons: it's, Jack Ablin, Ablin, McCormick, Archer, CFRA'S Sam Stovall, FactSet, Stovall, Greg Bassuk, Bassuk, Tyson, Eli Lilly, Fox Organizations: Federal, PPI, Cresset, Nasdaq, Dow Jones, Fed, Daniels, Midland, Chevron, Investments, Walt Disney Company, Wynn Resorts, Dow, Consumer Credit, Tyson Foods, Paramount, Parcel Service, CPI Locations: U.S, Michigan
Stocks could continue to gain momentum in the week ahead as traders turn their attention to earnings results after the past week's softer inflation news. The major benchmarks are headed for a positive week Friday after encouraging consumer and wholesale inflation in June cemented the likelihood that the Federal Reserve is closer to the end of its rate-hiking campaign. Some market participants expect this period could mark the trough for earnings, and urge traders to pay more attention to forward guidance. "And that's a great sign for the market and market health." ET: NAHB housing market index (July) Earnings: Bank of America , Morgan Stanley , Bank of N.Y. Mellon , Lockheed Martin , PNC Financial , J.B. Hunt Wednesday 8:30 a.m.
Persons: Sage, Rob Williams, Sam Stovall, gee, Stovall, It's, Yung, Yu Ma, MRB, Sage Advisory's Williams, Williams, Morgan Stanley, Wells, Baird's Ross Mayfield, Lockheed Martin, Baker Hughes, Goldman Sachs, Kinder Morgan, Equifax, Johnson Organizations: Federal Reserve, Traders, Reserve, Open, BMO Wealth Management's, MRB Partners, Bank of America, JPMorgan Chase, Investors, Bank, N.Y, Mellon, Lockheed, PNC Financial, J.B, Hunt, Housing, Nasdaq, Citizens Financial, Halliburton, Las Vegas Sands, IBM, Tesla, Netflix, American Airlines, United Airlines, CSX, Comerica, PPG, Roper Technologies, American Locations: Wells Fargo, Silicon Valley, Las Vegas, Horton
Recent inflation data points to a strong economy that could propel the S & P 500 to break the 5,000-point threshold by the end of 2023, according to Peter Essele, head of portfolio management for Commonwealth Financial Network. June data for two closely watched inflation gauges released this week, the consumer price index and producer price index , showed costs easing across the board. That signals to Essele the S & P 500 can keep charging upward, with his prediction of the 5,000 level being reached implying the S & P 500 will gain another 11.8% from Wednesday's close. The S & P 500 has already had a stellar year, rising 17%. We could easily see the S & P 500 top 5,000 by the end of the year."
Persons: Peter Essele, Essele, Sam Stovall, — CNBC's Michael Bloom Organizations: Commonwealth Financial Network, CPI, PPI, CNBC Locations: Wednesday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors playing catch up should boost the markets in the second half of 2023: CFRA's Sam StovallSam Stovall, CFRA chief investment strategist, joins 'Closing Bell Overtime' to discuss market performance in the second half of the year and what to expect from the Federal Reserve for the rest of the year.
Persons: CFRA's Sam Stovall Sam Stovall Organizations: Federal Reserve
The stock market's strength in 2023 is giving BMO Capital Markets reason to turn more bullish on the setup going forward. But even after a slew of significant rate increases, signs point to easing inflation and a strong and a resilient labor market, Belski said. .SPX YTD mountain S & P 500's 2023 performance "In other words, we believe the anticipated recipe for disaster is simply not present," he wrote. "So, from our perspective, all the worries that damaged 2022 market performance are slowly beginning to subside." "So, despite an extremely strong YTD sector performance, we believe the momentum, even if it slows a bit, is likely persist for the foreseeable future."
Persons: Brian Belski, CFRA's Sam Stovall, Belski, Price, — CNBC's Michael Bloom Organizations: BMO Capital, Federal Reserve Locations: Tech
In a note to clients on Sunday, Bank of America strategist Savita Subramanian hiked her year-end price target for the S & P 500 to 4,300 from 4,000. The S & P 500 is already up more than 9% year-to-date. .SPX YTD line The S & P 500 has gained more than 9% in 2023. The new target puts Bank of America above the average in the CNBC Market Strategist Survey . The highest target among major Wall Street firms is still 4,575 from CFRA's Sam Stovall.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed won't cut rates until the beginning of 2024 at the earliest, says CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist, joins CNBC's 'Squawk on the Street' to discuss the Fed's upcoming interest rate decision and what it means for markets.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFRA's Sam Stovall: Next week's inflation data will calm investors' nervesSam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss how he feels about markets now, the economic data that may impact markets, and more.
He also thinks earnings expectations are too high and will come down. This hawkish policy will eventually lead to a recession this year, Bierman said, a view that is shared by many on Wall Street. "The market has not priced in earnings misses, the market has priced in earnings beats," he said. Bierman's views in contextBierman's recession call has become a somewhat consensus view on Wall Street. RIA AdvisorsThis translates to lackluster expectations for stocks among Wall Street strategists.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomy setting up 'fairly challenging' start to 2023, says CFRA's Sam StovallLiz Young, head of investment strategy at SoFi, and Sam Stovall, CFRA Research chief investment strategist, join CNBC’s ‘Squawk Box’ to discuss their expectations from the first half of 2023.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with CFRA's Sam Stovall and Wells Fargo's Sameer SamanaSam Stovall, CFRA Research chief investment strategist, and Sameer Samana, Wells Fargo Investment Institute, join 'Squawk on the Street' to discuss Powell's recent comments at Brookings, whether now is a good time to buy equities and more.
FedEx pops following early earnings release
  + stars: | 2022-09-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFedEx pops following early earnings releaseCNBC's Frank Holland reports on FedEx earnings. CFRA's Sam Stovall joins the discussion to talk about the transports.
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