In a recent research note titled "Recalibrating our views" Bank of America’s Savita Subramanian, Equity & Quant Strategist described what’s changed so far this year. "War, GDP cuts, Fed on steroids…" she detailed.
As a result, she trimmed her year-end target for the S&P 500 to 4,500 which still implies a yearly advance of 8.9% from Friday’s closing price. With the major averages down sharply this year, especially the Nasdaq, LPL Financial chief market strategist Ryan Detrick, is taking a contrarian view.
Tesla an 'extremely overvalued stock' $tsla
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FAANG stocks plus Microsoft lost $1.4 trillion in market value during AprilOn another difficult Friday afternoon for the stock market, the broad U.S. indexes ended with significant declines --- with tech stocks standing out.
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Tech stocks sink again, Nasdaq has worst month since 2008More steep losses for technology stocks pushed the S&P 500 down 3.6% on Wall Street Friday
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Tech stocks sink; Nasdaq has worst month since 2008Another sharp sell-off led by tech added to Wall Street losses in April, leaving the S&P 500 with its biggest monthly skid since the pandemic's start.
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