Reported about 1 year ago
Tech stocks drove the Nasdaq to a historic high for the fifth consecutive trading day, while the Dow and S&P 500 remained stable. Goldman Sachs adjusted its year-end S&P 500 target to 5,600 points, marking the third increase in six months, citing optimism in the US economy and profit growth of large tech companies. The week ahead will focus on US economic data, particularly the May retail sales figures expected to increase by 0.3%. Nvidia continued to rise as Adobe's earnings inspired, while the Dow and S&P 500 saw slight declines. Additionally, Goldman Sachs raised the S&P 500 target due to improved profit prospects of S&P constituents, especially large tech companies, along with dovish comments from Federal Reserve officials regarding inflation.
Source: YAHOO