Dow Jones, Nasdaq, S&P 500 weekly preview: Fed, Apple and NFP in spotlight
The bears had a relatively easy time last week as high yields, ongoing geopolitical risks, strong economic data, and, most importantly, disappointing earnings all worked in their favor.
“In aggregate, the Q3 earnings season has been one of the worst in a while, not so much in terms of reported EPS vs. expectations but instead due to the totality of the reports,” analysts at Vital Knowledge added. because breadth typically leads price. Based on our fundamental and technical analysis, we remain comfortable with our long-standing 3,900 year-end target for the S&P 500, which implies a 17x multiple on our 2024 EPS forecast of approximately $230.”
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