Reported about 1 year ago
Following Goldman Sachs raising its year-end target price for the S&P 500 index to 5,600 points last week, Julian Emanuel, stock analyst at the investment bank Evercore ISI, has also turned optimistic, predicting the index to reach 6,000 points by the end of the year. This marks the most optimistic estimate for the S&P 500 among Wall Street firms. The bullish sentiment in the US stock market has also pushed the Chicago Board Options Exchange Volatility Index (VIX) to near a five-year low. However, there are warnings about excessive concentration of gains in a few large-cap stocks and concerns about the sustainability of the current market rally.
Source: YAHOO