The S&P 500 is showing some impressive momentum this week.
After breaking above 7,700 on August 4, the index pushed through 7,800 by August 13 — gaining 100 points in just seven trading sessions.
Cooling PPI data has also strengthened expectations for a September rate cut, with the probability of a hike falling below 40%. Meanwhile, Citibank lifted its EPS forecast from $350 to $365 and set a target of 8,100.
With the S&P 500 approaching the 8,000 milestone, momentum and earnings expectations are clearly keeping investors optimistic.
#CPIPPIEaseFedSplit #SP500Nears8000 #SandiskLongTermTargets
After breaking above 7,700 on August 4, the index pushed through 7,800 by August 13 — gaining 100 points in just seven trading sessions.
Cooling PPI data has also strengthened expectations for a September rate cut, with the probability of a hike falling below 40%. Meanwhile, Citibank lifted its EPS forecast from $350 to $365 and set a target of 8,100.
With the S&P 500 approaching the 8,000 milestone, momentum and earnings expectations are clearly keeping investors optimistic.
#CPIPPIEaseFedSplit #SP500Nears8000 #SandiskLongTermTargets