Oppenheimer strategist explains why he raised his S&P 500 price target

The S&P 500 (^GSPC) has been 2024's stand-out star among market indexes, closing at its 36th record high yesterday as it continues to outperform market strategists' forecasts. On the S&P 500's good fortune, Oppenheimer is raising its year-end price target from 5,500 to 5,900.
Oppenheimer chief investment strategist John Stoltzfus - the expert behind the price target raise - comes onto The Morning Brief to discuss the positive indicators shown in the index's "not robust, but resilient" rally and earnings growth.
Stoltzfus also weighs in on the likelihood of an interest rate-cutting cycle by the Federal Reserve:
"The fed is set on a likely cut in November. And we think that's a down payment for both Main Street and Wall Street and indication by the Fed that they are genuinely coming to the end of the Fed funds hike cycle with a message of 'but we're not quite there yet.' But here's the down payment saying that 'yeah, we're getting we're getting close to, a more normalization standard here.'"
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[@digital_0630]

Remember a couple of months ago when Tom lee predicted 5700 by end of year and people thought he was crazy?

[@user-oj1id5mp7w]

remains to be seen

[@mandyyonge]

My portfolio doesn’t just cater to dividend stocks. I hold $VFIAX (S&P 500 index fund) in my Roth IRA and $VTI (Total Stock Market ETF) in my taxable brokerage account. Two of my largest holdings. The individual dividend stock positions all complement the index holdings.

[@plpfctn2007]

It’s been a great year. I think we still go higher. I have the sp500 at 5800 by this December.

[@user-bz4hx8tf3b]

Being in the discord and starting trading is literally changing my life. I'm starting witha small $2,000 account but I got it up to $19,600 in one week! Not a lot of money but that's a big growth for me.🎉🎉🎉

[@marthabenson6293]

I have been struggling with stocks and forex since 2022 making losses everytime. I am struggling financially and am about to give up. Please please can someone reach for me and help me with trading please. I will appreciate it. Thankyou

[@user-bz4hx8tf3b]

I think I'm blessed if not I wouldn't have met someone who is as spectacular as expert Lisa magret .... High recommended 🙌

[@onyi617]

Same here, I'm blessed only.God knows how much I praise her, £32,000 every week! I now have a good house and can now afford anything and also support my family, and never will I forget to pay my tithes because God has been so faithful to me and my family

[@fataijoy624]

Yeah 240k from Lisa magret, looking up to acquire a new house in California 🇱🇷 it's a blessing

[@user-eh8hu2yy6q]

Can't imagine earning €32,000 biweekly, God bless mrs Lisa God bless America❤️

[@jameswang4802]

S&P500 could reach 5900~6000 around end of this July and then followed by a 20+% crash in the August, history says this likely will happen because current market is in its state of 1998!

[@RK-um9tu]

Thanks for sharing all that data. If earning are good in July there won't be a 20% plus crash in August.

[@jameswang4802]

@@RK-um9tu Even earning are good, people still can say everything is in the price already. What exactly will be the trigger, we don't know, but current market is setting up for such a crash.

[@chikanojuarez816]

🤝

[@CIAragDe]

This has nothing to do with Biden doing horrible at his debate……

[@user-oj1id5mp7w]

it's 1999 all over again

[@plpfctn2007]

Nah. The mag 7, besides Tesla, generates insane profits. The 90s tech bubble was built only on hope.

[@user-oj1id5mp7w]

@@plpfctn2007 yeah insane profits that for 20 years were based on 0% rates and QE. buckle up..... not to mention ai will wipe out those companies.