The S&P 500 Index is up 0.05% while the Dow Jones Industrial Average is down 0.02%, and the Nasdaq 100 Index has decreased by 0.15% as of today. September E-mini S&P futures show a slight increase of 0.03%, whereas September E-mini Nasdaq futures are down 0.17%. The market faces pressure from rising crude oil prices, which have increased by over 2%, contributing to heightened inflation expectations.
JPMorgan Chase & Co. has raised its year-end projection for the S&P 500 to 8,000 from 7,800, driven by a better-than-expected earnings season and quicker AI monetization. The S&P 500 is predicted to see earnings growth of nearly 32% for Q2, exceeding the previously expected 23%. Notably, 85% of the 444 S&P 500 companies that have reported so far have surpassed earnings estimates.
In overseas markets, the Euro Stoxx 50 is up by 0.22%, China’s Shanghai Composite has risen 0.672%, and Japan’s Nikkei-225 has gained 2.08%. Meanwhile, the 10-year T-note yield has increased by 4 bps to 4.69%, influenced by rising crude oil prices.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
