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S&P to reach 3000 by the end of 2018, possible? (☶ 3)


A: S&P above 3000 end of 2018

B: S&P below 3000 end of 2018

GoBackCheck: 2019-01-01 Not?

Facts / Results:

A: S&P above 3000 end of 2018

B: S&P below 3000 end of 2018

Poll closed

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2018-10-12 14:27:30 by SimpleMind 0 0

S&P 500 reached a high of 2940 on Oct. 3 2018, and closed at 2,728 on Oct. 11, 2018. Will it go down more or bounce back to reach 3000 at the end of 2018?

The sharp drop was attributed to sharp rise of treasury return, which is opposite of its price. High treasury return means high interest rate, and also related to high inflation.

China's trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, official data showed Friday, Oct. 12 2018. The trade war initiated by president Trump has been dragging on for quite long time and no foreseeable ending any time soon. This trade surplus can signal good or bad in either way. It can be interpreted as no effect of Trump's tariff pressure on China, which mean further tariff is possible, but also means the disruption on economy was not as server as predicted.

JPMorgan Chase (JPM), the largest U.S. bank by assets, reported better-than-expected results on Oct. 12 2018, with earnings per share of $2.34 versus analysts’ estimates of $2.26. CEO Jamie Dimon said in a statement. “The U.S. and the global economy continue to show strength, despite increasing economic and geopolitical uncertainties, which at some point in the future may have negative effects on the economy.”

Evercore’s Rich Ross predicts “now offer a compelling tactical setup for a textbook V-shaped reversal higher” .

Blackstone’s Byron Wien “I think we had to knock some of the complacency out of the market, and God knows, we are doing that right now,” Wien told CNBC during a late-morning interview. “I think this is a correction in an ongoing bull market and I think the market goes higher at year-end” .

Jeffrey Gundlach believes the U.S. stock market can't diverge from global equity markets forever. "I said [before] ... if the global stock [market] is going to take out the low and put in a new low, something bad must be happening."

Gene Munster, who was famous covering AAPL, warns for more selling in technology stocks. Big names, except Apple, including Facebook, Netflix and Amazon could see another big "step down" of 5 percent, he says.

Tags: Rich Ross Jamie Dimon Gene Munster Jeffrey Gundlach

Re SimpleMind 2018-10-17 00:41:38 by SimpleMind 0 0

S&P closed at 2,809.92 on Oct. 16 2018.

Re SimpleMind 2018-10-24 13:51:01 by SimpleMind 0 0

S&P hover around 2701. The midterm election and trade war with China could be two main force to drive stock market.

Re SimpleMind 2018-11-22 15:01:58 by SimpleMind 0 0

S&P closed at 2649 on Nov. 21 2018. Very unlikely it will reach 3000 at the end of 2018.


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