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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.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe could be setting ourselves up for a nice extended relief rally, says CFRA's Sam StovallCFRA's Sam Stovall joins 'Closing Bell' to discuss yesterday's Fed decision to raise rates 75 bps and says we could be in for a new market low, largely due to that decision.
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.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHave to differentiate the short-term murkiness from long-term opportunity, says UBS's Alli McCartneyAlli McCartney, UBS Private Wealth Management, and CFRA's Sam Stovall join 'Closing Bell' to discuss yesterday's Fed announcement and where they see things heading from here.
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