"Until we see several months of low or declining inflation, the headline number is still going to be above the 2% target that the Fed has set.
Goldman Sachs on Friday raised its year-end price target for the benchmark S&P 500 (.SPX) to 4,500 from 4,000, citing the broadening of the market rally.
Oracle (ORCL.N) advanced 4.3%, hitting an all-time high as J.P. Morgan hiked its price target to $109, ahead of the cloud and enterprise software firm's fourth-quarter results later in the day.
Technology stocks (.SPLRCT) led gains among the 11 major sectors of the S&P 500 while energy stocks (.SPNY) fell 0.5%, tracking a decline in crude prices.
Adobe (ADBE.O) shares gained 1.6% after Jefferies increased the Photoshop maker's price target to $530, the second highest on Wall Street.
Persons:
Melissa Brown, Goldman Sachs, Morgan, Thoma, Jefferies, Shristi Achar, Sruthi Shankar, Vinay Dwivedi
Organizations:
Nasdaq, Dow, Oracle Corp, U.S, Labor, Traders, Oracle, Dow Jones, Nasdaq Inc, Thoma Bravo, FDA, NYSE, Thomson
Locations:
megacap, Bengaluru