Latest news with #JohnStoltzfus
CTV News
2 days ago
- Business
- CTV News
Oppenheimer lifts S&P 500 year-end target to Wall Street-high on trade optimism
The New York Stock Exchange is seen in New York, Monday, July 14, 2025. (AP Photo/Seth Wenig) Oppenheimer Asset Management on Monday raised its year-end target for the S&P 500 index to 7,100, the highest among major Wall Street brokerages, betting on easing trade tensions and strong corporate earnings. Its current target implies an 11.13 per cent upside to the benchmark index's last close of 6,388.64. Oppenheimer previously set a target of 5,950 for the index. 'With the announcement of trade deals (Japan, EU) by President Trump... we believe that enough 'tariff hurdles' have been overcome for now,' Oppenheimer strategists led by John Stoltzfus said in a note. The U.S. and European Union finalized a trade deal on Sunday, that sets a 15 per cent tariff on most European goods including cars, semiconductors and pharmaceuticals, while the EU pledged to buy US$750 billion in U.S. energy and invest $600 billion in the U.S. economy. Last week, U.S. President Donald Trump struck a $550 billion deal with Japan. Earlier this month, Goldman Sachs, Bank of America, and RBC Capital Markets also raised their S&P 500 targets The S&P 500 has rebounded 28.2 per cent since its April 8 low, following Trump's 'Liberation Day' tariffs, broadly driven by cyclical sectors such as technology, industrials and communication services. Oppenheimer brought back its S&P 500 earnings estimate to $275, which it had originally set in December 2024, having trimmed its projection to $265 in April. Stoltzfus continues to favor U.S. equities, particularly cyclical stocks, and sees further upside as inflation moderates and expects the U.S. Federal Reserve to hold interest rates steady in this week's policy meeting. (Reporting by Rashika Singh in Bengaluru; Editing by Shailesh Kuber)
Yahoo
2 days ago
- Business
- Yahoo
Oppenheimer lifts S&P 500 year-end target to Wall Street-high on trade optimism
(Reuters) -Oppenheimer Asset Management on Monday raised its year-end target for the S&P 500 index to 7,100, the highest among major Wall Street brokerages, betting on easing trade tensions and strong corporate earnings. Its current target implies an 11.13% upside to the benchmark index's last close of 6,388.64. Oppenheimer previously set a target of 5,950 for the index. "With the announcement of trade deals (Japan, EU) by President Trump... we believe that enough 'tariff hurdles' have been overcome for now," Oppenheimer strategists led by John Stoltzfus said in a note. The U.S. and European Union finalised a trade deal on Sunday, that sets a 15% tariff on most European goods including cars, semiconductors and pharmaceuticals, while the EU pledged to buy $750 billion in U.S. energy and invest $600 billion in the U.S. economy. Last week, U.S. President Donald Trump struck a $550 billion deal with Japan. Earlier this month, Goldman Sachs, Bank of America, and RBC Capital Markets also raised their S&P 500 targets The S&P 500 has rebounded 28.2% since its April 8 low, following Trump's 'Liberation Day' tariffs, broadly driven by cyclical sectors such as technology, industrials and communication services. Oppenheimer brought back its S&P 500 earnings estimate to $275, which it had originally set in December 2024, having trimmed its projection to $265 in April. Stoltzfus continues to favor U.S. equities, particularly cyclical stocks, and sees further upside as inflation moderates and expects the Federal Reserve to hold interest rates steady in this week's policy meeting.
Yahoo
2 days ago
- Business
- Yahoo
Wall Street bull calls for 11% rally in S&P 500 to end 2025 as trade 'uncertainty' subsides
The high water mark for Wall Street's S&P 500 (^GSPC) targets has moved up amid the market rally. Oppenheimer chief market strategist John Stoltzfus boosted his year-end target to 7,100 from 5,950 in a note to clients on Sunday night as "progress on trade negotiations removes an uncertainty that had weighed on our market outlook." The new target is now the highest on Wall Street and calls for another 11% rally in the S&P. Should the S&P 500 close out 2025 above 7,100, the benchmark index will have rallied more than 20% for a third-straight year. Stoltzfus is one of several Wall Street strategists that has now reverted back to their initial year-end forecasts after previously slashing their target during April's near-20% tariff-driven market drawdown. Stolzfus' update came just hours after President Trump announced a deal with the European Union that includes a baseline 15% tariff rate on EU goods imported to the US. "We believe that enough 'tariff hurdles' have been overcome for now to reinstate our original price target for the S&P 500 of 7100 by year-end," Stoltzfus wrote. Stoltzfus reached his year-end target by projecting S&P 500 earnings per share at $275 for 2025 and the market trading at a forward twelve-month price to earnings ratio of 25.8. The S&P 500 is now valued at 22.4 times next year's earnings, above the five- and 10-year averages of 19.9 and 18.4, per FactSet data. This already has some wondering if the market rally has become overstretched. But strategists like Stoltzfus have recently been pointing out that corporate profits are proving more resilient than initially feared following Trump's initial April tariff announcements. With 34% of the S&P 500 having reported results, earnings in the second quarter are on pace to grow 6.4%, up from the 5% expected on June 27, per FactSet data. Estimates for year-over-year earnings growth in the final two quarters of 2025 and for the full year 2026 have been moving higher. As of July 25, FactSet data showed analysts expect the S&P 500 to grow earnings by 13.9% in 2026, slightly higher than the 13.8% that had been expected a month ago. In a Sunday note to clients, Citi head of US equity strategy Stuart Kaiser pointed out that earnings guidance for future quarters has been increased more than the prior reporting period in April. Kaiser points out that thus far, 41% of companies have raised their full-year guidance, up from 10% seen in April. Kaiser noted this is an added "tailwind" for US stocks. Morgan Stanley Chief Investment Officer Mike Wilson agrees. Data Wilson shared with Yahoo Finance shows that earnings revisions breadth — or the ratio of companies raising forecasts to those cutting forecasts — has rebounded as dramatically as the S&P 500 itself. "We are currently experiencing one of the strongest V-shaped recoveries in history, rivaling the Covid rebound in 2020, the last time we were so out of consensus on the market," Wilson told Yahoo Finance via email. "Many market participants do not appreciate how strong this very fundamental driver has been over the past several months, which helps to not only justify the rally to date, but also why we remain bullish on the next 6-12 months." Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Oppenheimer lifts S&P 500 year-end target to Wall Street-high on trade optimism
(Reuters) -Oppenheimer Asset Management on Monday raised its year-end target for the S&P 500 index to 7,100, the highest among major Wall Street brokerages, betting on easing trade tensions and strong corporate earnings. Its current target implies an 11.13% upside to the benchmark index's last close of 6,388.64. Oppenheimer previously set a target of 5,950 for the index. "With the announcement of trade deals (Japan, EU) by President Trump... we believe that enough 'tariff hurdles' have been overcome for now," Oppenheimer strategists led by John Stoltzfus said in a note. The U.S. and European Union finalised a trade deal on Sunday, that sets a 15% tariff on most European goods including cars, semiconductors and pharmaceuticals, while the EU pledged to buy $750 billion in U.S. energy and invest $600 billion in the U.S. economy. Last week, U.S. President Donald Trump struck a $550 billion deal with Japan. Earlier this month, Goldman Sachs, Bank of America, and RBC Capital Markets also raised their S&P 500 targets The S&P 500 has rebounded 28.2% since its April 8 low, following Trump's 'Liberation Day' tariffs, broadly driven by cyclical sectors such as technology, industrials and communication services. Oppenheimer brought back its S&P 500 earnings estimate to $275, which it had originally set in December 2024, having trimmed its projection to $265 in April. Stoltzfus continues to favor U.S. equities, particularly cyclical stocks, and sees further upside as inflation moderates and expects the Federal Reserve to hold interest rates steady in this week's policy meeting.
Reuters
2 days ago
- Business
- Reuters
Oppenheimer lifts S&P 500 year-end target to Wall Street-high on trade optimism
July 28 (Reuters) - Oppenheimer Asset Management on Monday raised its year-end target for the S&P 500 index (.SPX), opens new tab to 7,100, the highest among major Wall Street brokerages, betting on easing trade tensions and strong corporate earnings. Its current target implies an 11.13% upside to the benchmark index's last close of 6,388.64. Oppenheimer previously set a target of 5,950 for the index. "With the announcement of trade deals (Japan, EU) by President Trump... we believe that enough 'tariff hurdles' have been overcome for now," Oppenheimer strategists led by John Stoltzfus said in a note. The U.S. and European Union finalised a trade deal on Sunday, that sets a 15% tariff on most European goods including cars, semiconductors and pharmaceuticals, while the EU pledged to buy $750 billion in U.S. energy and invest $600 billion in the U.S. economy. Last week, U.S. President Donald Trump struck a $550 billion deal with Japan. Earlier this month, Goldman Sachs, Bank of America, and RBC Capital Markets also raised their S&P 500 targets The S&P 500 has rebounded 28.2% since its April 8 low, following Trump's 'Liberation Day' tariffs, broadly driven by cyclical sectors such as technology, industrials and communication services. Oppenheimer brought back its S&P 500 earnings estimate to $275, which it had originally set in December 2024, having trimmed its projection to $265 in April. Stoltzfus continues to favor U.S. equities, particularly cyclical stocks, and sees further upside as inflation moderates and expects the Federal Reserve to hold interest rates steady in this week's policy meeting.
