Wall Street may struggle to follow up a strong session, as futures fell Wednesday with investors watching rising bond yields and waiting for more corporate results, including Tesla, after the market close.
What’s driving the market? A winning streak that has led the S&P 500 and Nasdaq Composite to five straight positive sessions looked set for a breather. The S&P 500 also sits 0.38% off its all-time high reached Sept. 2 at 4536.95. Fundstrat Global Advisors lifted its end-year S&P 500 forecast to 4,800 from 4,700. In a note to clients, strategists led by founder Tom Lee said they see a “strong risk-on environment” as under way, helped by a typically strong year-end seasonal pattern that follows October.
Tesla is the most overpriced stock on the market but happy for Elon .
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