"The combination of an improving global earnings cycle, easier monetary policy in the US as inflation returns to the target level, and China's recent multifaceted stimulus appears supportive of equity markets and cyclicals," strategist Nigel Tupper said in a Monday note to clients. "Seasonality also provides a positive backdrop," he added, noting that global equities have rallied in the last ten weeks of the calendar year in 86% of years going back to1988.
BofA analyst Vivek Arya's $165 price target implies about 34.3% upside for the AI darling. He views Nvidia's longer-term growth opportunities being tied to gaming and data center demand. Exxon shares have outperformed this week, gaining about 5.8%, as oil prices pop amid fears about prolonged uncertainty in the Middle East with Israel's ground operation beginning in Lebanon . The stock was on pace to cross a new all-time high on Thursday. This year, its shares are up 22.4%.
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