for the Federal Reserve. But that's not priced into the stock market, according to Oppenheimer's Chief Investment Strategist John Stoltzfus.
Stoltzfus made no mention of moving down his year-end target for the S&P 500 of 4,900 but notes inflation is still too far off the Fed's 2% goal. Expectations are for the latest Consumer Prices Index reading on Wednesday morning to show prices rose 3.6% over the prior year in August,On a "core" basis, which strips out the volatile food and energy categories, CPI is expected to rise 4.3% over last year in August, a slowdown from the 4.7% increase seen in July.
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Oppenheimer’s Stoltzfus Says US Stocks Are Likely to Dip FurtherThe recent pullback in US stocks has further to go, according to Wall Street’s most bullish strategist.
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