_wall-street-strategists-raise-sampp-500-price-targets-amid-positive-inflation-numbers-here39s-why-the-fed39s-one-cut-fo.jpg "Wall Street Strategists Raise S&P 500 Price Targets Amid Positive Inflation Numbers. Here's Why the Fed's One Cut Forecast May Alredy Be Outdated from may tan Video Screenshot Preview")
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✓ Published: 18-Jun-2024
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✓ Published: 18-Jun-2024
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The latest inflation data is providing a boost to the current stock market rally, with the S&P 500 and Nasdaq hitting four straight record closes last week. Wall Street strategists are raising their year-end price targets for the S&P 500. The May Consumer Price Index and Producer Price Index showed significant progress towards the Fed's inflation goal. Economists believe this indicates a positive reading of the Fed's preferred inflation gauge. The Fed's latest Summary of Economic Projections showed a median forecast of just one rate cut in 2024. Still, strategists believe this may already be stale given the positive inflation data released after the Fed's meeting.
The latest inflation data is providing a boost to the current stock market rally, with the S&P 500 and Nasdaq hitting four straight record closes last week. Wall Street strategists are raising their year-end price targets for the S&P 500. The May Consumer Price Index and Producer Price Index showed significant progress towards the Fed's inflation goal. Economists believe this indicates a positive reading of the Fed's preferred inflation gauge. The Fed's latest Summary of Economic Projections showed a median forecast of just one rate cut in 2024. Still, strategists believe this may already be stale given the positive inflation data released after the Fed's meeting.
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