Will this six week streak a sign of a bigger downfall? Hope the momentum continues.
Morgan Stanley, JPMorgan Both Target S&P 8000 — But Index Falls?
Morgan Stanley and JPMorgan both lifted their S&P 500 targets to 8,000, on earnings upgrades rather than multiple expansion. Monday disagreed: S&P 500 −0.52% to 7,745.06, Dow −0.51%, Nasdaq −0.32%. August consumer confidence weakened, and a sell-side note titled "Three Bubbles, One Liquidity Problem" flagged narrowing upside and extreme investor leverage. Worth noting: 8,000 is 3.3% from here. The week's variable is July FOMC minutes, Thursday 2 a.m. Beijing, from the meeting that held at 3.50–3.75% with three hike votes. Long AI and semis, rotate to financials and consumer, or wait?
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