MARKET
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Opinion: Ed Yardeni: 12 reasons stock investors will see the S&P 500 hit 5,400 in 2024
Earlier this month, Barron’s highlighted the 2024 S&P 500 SPX targets for six investment strategists including yours truly. Our target is the highest at 5,400, based on projected S&P 500 earnings per share of $250 next year. Morgan Stanley’s Mike Wilson has the lowest numbers at 4,500 for the index’s price target and $229 for earnings per share. In last year’s survey by Barron’s, we…
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A ‘Santa Claus rally’? Why investors should dial back their expectations.
Almost as predictable as the big jolly man himself, many on Wall Street are eagerly waiting for the so-called “Santa Claus rally” to further fuel stock-market gains that have already put investors in a holiday mood. As defined by the Stock Trader’s Almanac, the Santa Claus rally refers to the stock market’s tendency to rise during the last five trading…
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Nike eyes $2 billion in cost cuts in effort to ‘streamline’ amid softer outlook
Nike Inc. on Thursday said it was looking for ways to save $2 billion over the next three years, in an effort to “streamline” the company following what it said was a “softer second-half revenue outlook.” Nike NKE, +0.91% said that the savings could come from simplifying its product selection and using more automation and technology. But the athletic-gear giant…
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Federal Reserve stirs hope of less carnage in commercial real estate in 2024
Hopes for a Federal Reserve pivot to rate cuts have given the battered U.S. commercial real-estate market a shot in the arm ahead of a wave of debt coming due next year. Long-term rates, evidenced by a sharp easing of the 10-year Treasury yield since October, were on a path lower before the Fed last week signaled a pivot to…
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Quaker Oats recalling dozens of Chewy Bars and cereals over salmonella fears
Get these Quaker Oats treats out of your house. So says PepsiCo-owned PEP, -0.74% Quaker Oats Company, which on Friday issued a voluntary recall warning that dozens of its granola bars and granola cereals could be contaminated with salmonella, a bacterial organism that can cause serious and sometimes fatal infections in young children and frail or elderly people, as well as…
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AMC’s stock falls 5% after company clinches $350 million equity offering
AMC Entertainment Holdings Inc. shares fell more than 5% Tuesday after the company completed its latest at-the-market equity offering, raising approximately $350 million. The equity capital was raised through the sale of approximately 48 million shares, at an average price of approximately $7.29 per share, AMC AMC, -5.49% said in a statement released late Monday. AMC’s move is the latest…
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