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Wall Street could be in for another solid quarter as stocks have embarked on a strong start to the year. Specifically, in the second quarter, the S & P 500 was higher 9 out of 11 times, averaging a 2.7% gain. Significantly, two occurrences of those 10% first-quarter gains Detrick reviewed took place during election years, with the S & P 500 ending higher on the year. In 1976, the S & P 500 went on to register a 1.5% increase in the second quarter, and a 4.6% jump for the rest of the year. The Wall Street firm maintained its year-end S & P 500 target of 5,050, representing a 3.8% slide from Wednesday's close.
Persons: Ryan Detrick, We've, there'd, Detrick, CNBC's, Research's Sam Stovall, Stovall, Piper Sandler, Craig Johnson, Brian Nick, Nick, John Stoltzfus, Ayako Yoshioka, Yoshioka, CFRA's Stovall, FactSet Organizations: Nvidia, VanEck Semiconductor, Dow Jones, Carson Group, Macro, PMI, Manufacturing, ADP, Survey, Services PMI, Weston Holdings, Conagra Brands, Consumer Credit Locations: U.S
Oppenheimer's John Stoltzfus has reclaimed his place as the most optimistic when it comes to year-end S & P 500 targets. Stoltzfus, the firm's chief investment strategist, hiked his forecast for the S & P 500 to 5,500 from 5,200. He had the highest target price heading into the year at 5,200, but was outdone as some beat him to increasing their forecasts. Stoltzfus also increased his earnings projection for the S & P 500 in 2024 by $10 to $250, making him tied for another Street high. The benchmark S & P 500 has climbed nearly 10% so far in the new year.
Persons: Oppenheimer's John Stoltzfus, Stoltzfus, JPMorgan's Dubravko Organizations: CNBC Pro, Social Security, CNBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors can expect 1-2 rate cuts in the second half of 2024, says Oppenheimer's John StoltzfusJohn Stoltzfus, Oppenheimer Asset Management chief investment strategist, joins 'Squawk Box' to discuss the Fed's rate decision, takeaways from Fed Chair Powell's presser, rate path outlook, and more.
Persons: Oppenheimer's John Stoltzfus John Stoltzfus, takeaways, Powell's presser Organizations: Oppenheimer Asset Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Talks: Top strategists and stock pickers share their 2024 market playbookThe S&P 500 ended 2023 with a bang, up 24% on the year despite persistent recession warnings, a regional banking crisis, widespread tech layoffs, and 'higher-for-longer' interest rates. Can the stock market momentum continue into 2024? Oppenheimer's John Stoltzfus, Requisite Capital Management's Bryn Talkington and Capital Wealth Planning's Kevin Simpson each break down their 2024 market outlooks and field stock-specific questions from CNBC PRO subscribers.
Persons: Oppenheimer's John Stoltzfus, Bryn, Kevin Simpson Organizations: Wealth, CNBC Locations: Bryn Talkington
Lori Calvasina, the bank's head of U.S. equity strategy, raised her year-end S & P 500 price target to 5,150 from 5,000. This is approximately 9.6% higher than the S & P 500's Friday closing level of 4,697.24. Last week, the S & P 500 snapped a nine-week winning streak as investors began pulling back on the technology titans. The yield on the benchmark U.S. 10-year Treasury also traded above 4% last week, further placing downward pressure on the equity market. Calvasina's bear case sees the S & P 500 closing at 4,770 in 2024, just 1.5% above Friday's close.
Persons: Lori Calvasina, Calvasina's, Oppenheimer's John Stoltzfus, Calvasina, she's, hasn't, Russell Organizations: RBC Capital, titans, Treasury, Wall Locations: U.S
(PRO subscribers can view the official 2024 strategist survey here . ) "Lifting our 12-month S & P 500 target to 5100 as inflation falls, the Fed turns dovish, and real yields plunge," Kostin wrote. Other Wall Street firms with similarly bullish forecasts include Citigroup and BMO Capital Markets, which each have S & P 500 price targets of 5,100. Barclays' Venu Krishna was even more bearish, anticipating the S & P 500 would fall to 3,725. Entering the penultimate trading week of the year, the S & P 500 is almost 23% higher in 2023, while the Nasdaq Composite has advanced almost 42%.
Persons: , Stocks, Sam Stovall, Monday, Stovall, Goldman Sachs, David Kostin, Kostin, John Stoltzfus, Stoltzfus, America's Savita Subramanian, JPMorgan's, Bujas, Morgan Stanley, BofA's Subramanian —, Venu Krishna, Oppenheimer's John Stoltzfus, Dow Industrials Organizations: CNBC, Federal Reserve, Dow Jones, CFRA Research, Goldman, Oppenheimer Asset Management, Citigroup, BMO Capital Markets, Bank, America's, Nvidia, Microsoft, Barclays, Nasdaq Locations: Friday's
The odds of a fourth-quarter rally for the S & P 500 are coming down as higher rates and slower growth pressure equities, according to Morgan Stanley's Mike Wilson. The S & P 500 approached its 200-day moving average — around 4,224 — earlier this month. .SPX YTD bar SPX in 2023 Wilson now forecasts the S & P 500 to fall to 3,900 by the end of 2023. According to the CNBC Market Strategist Survey , the average 2023 target for the S & P 500 is at 4,392, with the median target even higher at 4,500. Sean Simonds of UBS is the only other top strategist who forecasts the S & P 500 pulling back to 3,900.
Persons: Morgan Stanley's Mike Wilson, Wilson, Stocks, SPX, Sean Simonds, Oppenheimer's John Stoltzfus, — CNBC's Michael Bloom Organizations: Federal, CNBC Market, Survey, UBS
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOppenheimer's John Stoltzfus on why he's keeping his 4,900 price target for the S&P 500John Stoltzfus, Chief Investment Strategist at Oppenheimer Asset Management, discusses his S&P 500 price target, the impact of rising rates, and which sectors he's watching closely.
Persons: John Stoltzfus Organizations: Oppenheimer Asset Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEquities are an essential place to be, says Oppenheimer's John StoltzfusJohn Stoltzfus, chief investment strategist at Oppenheimer Asset Management, joins 'The Exchange' to discuss re-rating financials, portfolio allocation strategies, and the Fed putting an end to free money.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStoltzfus: What will eventually kill this bear market is the fundamentals overwhelm the negative sentimentOppenheimer's John Stoltzfus says for now, there's no pause or pivot from the Fed, and there's still plenty of opportunities for equity investors.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets could face a moderate upside in 2023, says Oppenheimer's John StoltzfusJohn Stoltzfus, Oppenheimer Asset Management chief investment strategist, joins CNBC's 'Squawk on the Street' to discuss his market outlook for 2023 and expectations for future interest rate hikes from the Federal Reserve.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Oppenheimer's John Stoltzfus and Wells Fargo's Darrell CronkJohn Stoltzfus, Oppenheimer Asset Management chief investment strategist, and Darrell Cronk, Wells Fargo CIO for wealth & investment management, join 'Squawk on the Street' to discuss whether valuations have fallen enough, what Stoltzfus makes of the December selloff and if the absolute level of rates matters.
Watch CNBC's full interview with Oppenheimer's John Stoltzfus
  + stars: | 2022-11-25 | 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 EmailWatch CNBC's full interview with Oppenheimer's John StoltzfusJohn Stoltzfus, Oppenheimer Asset Management chief investment strategist, joins 'Squawk on the Street' to discuss current market performance and expectations.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnd-of-year price target likely has to be revisited, says Oppenheimer's John StoltzfusJ.P. Morgan Asset Management's Phil Camporeale and Oppenheimer Asset Management's John Stoltzfus, join 'Squawk on the Street' to discuss businesses working under adversity, expectations for further market dips, and the outlook for earnings season.
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