finished the day up roughly 1.2% in the wake of a downbeat week driven by mixed results for Big Tech earnings.
Oppenheimer's chief investment strategist John Stoltzfus lowered his price target for the S&P 500 to 4900 from 4400. Stoltzfus had held the highest year-end target for the S&P 500 among strategists tracked by Yahoo Finance. "Ironically even as economic and corporate earnings resilience have persisted since the end of July, market sentiment soured on stocks as market-priced interest rates moved higher and geopolitical risk ramped up," Stoltzfus wrote in a research note on Monday.
CEO and President Chris Kempczinski said the results demonstrate the company's"strength as the industry leader" in the release.
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