Stocks Rally as Chip Makers Rebound
View original at nasdaq.comStocks Rally as Chip Makers Rebound The S&P 500 Index ($SPX) (SPY) on Friday closed up by +0.98%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +1.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +0.77%…
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Downgraded Palo Alto Networks to reduce from hold with a price target of $157
80% confidenceThe Eurozone economy is performing better than expected just three or four months ago
80% confidenceDowngraded Bath & Body Works to equal weight from overweight
80% confidenceThe current level of interest rates is appropriate
80% confidenceQ4 comparable sales forecast of +3% to +4%
80% confidenceHe sees room for a Fed rate cut in the near term
80% confidence82% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021
80% confidenceDifficult to cut rates again in December unless there is clear evidence that inflation will fall faster than expected or labor market will cool more rapidly
80% confidenceHolding interest rates steady would be appropriate for now as inflation is likely to stay elevated for some time
80% confidenceDownside risks to employment have increased while upside risks to inflation have eased
80% confidence