Bullish Mood Takes Over the Market
The S&P 500 has reached a record high, and stock prices continue to rise due to a drop in risk averseness. Investors are now more concerned with beating benchmarks than with wealth preservation. This shift in attitude is largely attributed to the Fed's decision to stop raising interest rates, lower energy prices, a quiet hurricane season, and a lack of focus on Iran.
Key Takeaways:
- The S&P 500 has reached a record high, with stock prices driven by a drop in risk averseness.
- Investors are now more concerned with beating benchmarks than with wealth preservation.
- The Fed's decision to stop raising interest rates, lower energy prices, a quiet hurricane season, and a lack of focus on Iran have contributed to the bullish mood.
- Target price for Deutsche Bank AG (NYSE: DB) has been raised to $126.
- Gene Logic, Inc. (Nasdaq: GLGC) has been downgraded to a Sell rating with a $1.20 price target.
- Zacks Equity Research provides analysis on over 1,150 publicly traded stocks.
- Recommendations and target prices are six-month time horizons.
Statistics:
- The S&P 500 has reached a record high.
- Energy prices have dropped.
- The hurricane season has been quiet.
- The Fed has stopped raising interest rates.
- Deutsche Bank AG (NYSE: DB) reported second quarter earnings of €1.2 billion.
- Gene Logic, Inc. (Nasdaq: GLGC) provides services to organizations involved in the drug discovery and development business.
Sources:
- Zacks.com
- Zacks Equity Research
- Deutsche Bank AG (NYSE: DB)
- Gene Logic, Inc. (Nasdaq: GLGC)
- FOMC (Federal Open Market Committee)
- IRS (Internal Revenue Service)
- hurricane season data
- energy commodity prices
- stock prices data for S&P 500
- Richard J. Bremer, director of research, Zacks Equity Research.