00:00 Speaker A
We’ve seen multiple analysts raise their year-end targets for the S&P 500 recently as concerns over President Trump’s tariff policies recede and bullishness returns on Wall Street. So we’re taking a look at some of the top calls on Wall Street. We have Wells Fargo predicting that the S&P 500 will end over 7,000. BMO Capital Markets is at 6,700 and Goldman Sachs is now at 6,600. This is one of our most recent price target increases. So you can see how that’s changed over the past several months, of course, around the April tariff announcements, we had a lot of unknowns, a lot of uncertainties on Wall Street. But now we’re becoming a little more bullish. Goldman Sachs analyst David Kostin, he noted the possibility for deeper fed rate cuts, the fact that we’re seeing treasury yields edge lower as catalyst moving forward. He also said that traders will likely look past any near-term earnings weakness. We also saw a recent upgrade from Bank of America. They are now at 6,300. This is up from the prior 5,600. Now, Bank of America analyst Savita Subramanian, she’s a little bit more bearish on the outlook. I mean 6,300, it’s pretty similar to what we’re trading at right now. She sees earnings, especially in the tech sector, possibly deteriorating over time. However, she did say that you cannot count out corporate America. She says a lot of these large cap companies have been able to insulate themselves from various tariff unknowns here. And if we take a look at the S&P 500 since the start of the year, you’ll see these April tariff blows, that’s when equities dipped pretty aggressively, but there’s been a steady climb up here. We’re now up around 7% year to date, again, trading around that 6,300 mark.