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46 minutes ago
The S&P 500 could end the year at 5,500, says InfraCap’s Jay Hatfield.
The S&P 500 index hit a new all-time high this week, closing above a key milestone of 5,000 points on Friday afternoon. But Jay Hatfield of Infrastructure Capital Advisors thinks the index still has room to rise through 2024.
Hatfield’s year-end target is a composite index of 5,500, representing a potential 9% upside. But in the short term, he thinks the market will remain mostly stagnant as investors wait for the U.S. Federal Reserve to start cutting interest rates.
“I don’t think we’re going to get to 5,500 people any time soon,” he told CNBC. “We’re likely to see a Fed and ECB rate cut in June, possibly May, but until we get more clarity on both, we expect it to stall around 5,000 or 5,100,” he told CNBC. I’m doing it,” he said.
— Lisa Kailai Han
1 hour ago
week review
Last week’s market statistics are as follows:
- Last week, the Dow Jones Industrial Average rose 0.04%, marking its fifth straight positive week.
- The S&P 500 rose 1.37% this week, marking its fifth consecutive week of positive gains.
- The Nasdaq Composite Index rose 2.31% for the week, marking its fifth consecutive positive week.
- All three major averages have increased in 14 of the past 15 weeks.
— Lisa Kailai Han, Christopher Hayes
1 hour ago
Stock futures trading remains largely unchanged
Stock futures were mostly flat on Sunday night, with all three major futures contracts trading within 0.1% of the previous day’s closing price.
— Lisa Kailai Han
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