Blog Archives

Wall Street’s Perennial Optimists Strike Again

It’s been said the only bubbles that Wall Street sees are the bubbles in its champagne glasses.

It appears those words are true because year-end targets for the S&P 500 (SNP:^GSPC) by Wall Street’s finest – are shall we dare say – quite bubbly:

  • Bank of America 2,200
  • Goldman Sachs 2,100
  • Morgan Stanley 2,275
  • JPMorgan 2,250
  • Stifel 2,350
  • Canaccord 2,340
  • RBC 2,325
  • Birinyi 2,300
  • UBS 2,225

The chart below shows how the S&P 500 (NYSEARCA:VOO) actually trades near 1,920 –

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Volatility Sleeps, Risk Doesn’t

Higher stock prices (NYSEARCA:DIA) have kept a lid on stock market volatility.

The S&P 500 volatility index (ChicagoOptions:^VIX), also known as the “fear index,” has now fallen around 17% over the past month and is back below its 200-day moving average. Does the stock market’s general lack of fear mean that volatility has reached a permanently low plateau?

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