Wells Fargo (WFC) boosted its year-end target for the S&P 500 (^GSPC) to 5,535, one of the highest forecasts on Wall Street. The bank cited growth in AI, outlook for upcoming earnings, and investor expectations for interest rate cuts from the Federal Reserve as several reasons for its increased projection. Yahoo Finance Anchors Madison Mills and Seana Smith break down the latest developments for the S&P 500 and how the index may move going forward. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Wells Fargo (WFC) boosted its year-end target for the S&P 500 (^GSPC) to 5,535, one of the highest forecasts on Wall Street. The bank cited growth in AI, outlook for upcoming earnings, and investor expectations for interest rate cuts from the Federal Reserve as several reasons for its increased projection.
Yahoo Finance Anchors Madison Mills and Seana Smith break down the latest developments for the S&P 500 and how the index may move going forward.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
Reuters
Pfizer said on Tuesday its respiratory syncytial virus (RSV) vaccine Abrysvo was well tolerated and generated an immune response in higher risk adults under the age of 60 similar to that in older adults, for whom the shot is already approved. Pfizer said it plans to submit its findings from the trial to seek expanded approval of the vaccine in adults ages 18 to 59, but did not give a time frame for when it expects the data to be considered by regulators. "This represents a real opportunity for an expansion to an age population in a risk population that wouldn't normally see the availability of this vaccine so soon," Dr. Iona Munjal, executive director of clinical vaccine R&D at Pfizer, said in an interview.
Benzinga
Planet Fitness Inc. (NYSE:PLNT) Founder and CEO Mike Grondahl detailed a history of rampant abuse at the company and alleged it misrepresented its financials during a recent interview with controversial right-wing X user Libs of TikTok. This comes after weeks of calls for boycotts of the brand after the company canceled the membership of a Planet Fitness gym goer after speaking out about a biological male in the women's locker room. Planet Fitness's policy allows gym members to use the locker ro
Bloomberg
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Reuters
The Fed had stuck to its view of three rate cuts last month, which bolstered the broad rally in U.S. equities, although recent hawkish comments from policymakers and strong economic data have taken some steam off it. Wells Fargo also lifted the S&P 500's earnings per share estimate to $242 from $235 for this year. The revised target represents a near-6.4% upside to the index's Friday close of 5,204.34.
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