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UBS S&P 500 target is 3,300 (in about a year’s time)

  
Analysis, US Market

UBS on the US equity index, say that Q2 of this year will mark the bottom for corporate profits, earnings to now head higher.

  • We expect profits to be down 40% in 2Q. However, as we expected, many management teams continued to emphasize that the outlook remains uncertain and is highly contingent on progress containing the coronavirus and additional government stimulus
  • Our S&P 500 EPS estimates of USD 122 (-26%) and USD 156 (+28%) for 2020 and 2021, respectively, remain unchanged. Overall, results should help sustain the rally we have seen over the last four months. 
  • Our June 2021 S&P 500 price target remains 3,300
Agree/disagree? Comments welcome!
UBS

US Indices end the session mixed.

  
Analysis, US Market
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NASDAQ closes lower for the 1st time in 3 days

US stocks are ending the session mixed.

  • The S&P index moved higher close at the highest level since February 21.
  • The S&P is up for the 3rd consecutive day
  • The NASDAQ index close lower after 2 days of gains
  • the Dow industrial average is on a today winning streak
A look at the closing levels shows:
  • S&P index up 5.46 points or 0.17% at 3257.30
  • NASDAQ index -86.72 points or -0.81% at 10,680.36
  • Dow industrial average rose 159.53 points or 0.60% at 2684.40

NASDAQ index rises over 2.50% on the day. New record close

  
Analysis, US Market
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eBay #Sponsored Wallstreet Stock Market Bull and Bear Head Bookends Bronze ElectroplatedThe buyers return to Amazon, Microsoft, Tesla ahead of their earnings over the next 2 weeks

The NASDAQ index rose over 2.5% on the day, outpacing small gains in the S&P index and Dow industrial average (which barely closed above unchanged).
The final numbers are showing:
  • S&P index up 27.11 points or 0.84% to 3251.83. The high price reached 3258.61. The low extended to 3215.16
  • NASDAQ index closed up 263.90 points or 2.51% at 10767.09. That is a record high close for the NASDAQ index
  • Dow industrial average closed up 8.92 points or 0.03% at 26680.83. The high price reached 26765.02. The low extended to 26504.20
Leading the way were some of the years biggest gainers including:
  • Tesla, +9.47% to $1643
  • Amazon, +7.93%
  • Microsoft, +4.3%
Tesla Microsoft will announce their earnings on Wednesday, July 22. Amazon will announce earnings on Thursday, July 30.
After the close IBM has announced higher earnings on the top and bottom line
  • EPS comes in at $2.18 vs. $2.17 estimate
  • revenues came in at $18.12 billion vs. $17.72 billion estimate
IBM shares are up in after hours trading and trades at $130.25 up 3.88% on the day

Major US indices end the session with mixed results

  
Analysis, US Market
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Get an offer for fulltime employment after completing my second internship on Wall Street this summer. They need more women in charge!Dow industrial average down for the 2nd consecutive day

The major US stock indices are ending the session with mixed results.  The gains were led by the S&P index. The Dow industrial average fell for the 2nd consecutive day. The S&P index close week just below the year end closing level of 3230.78. It is still down -0.19% on the year

The final numbers are showing:
  • S&P index, up 9.18 points or +0.29% at 3224.75
  • NASDAQ index, up 29.36 points or 0.28% at 10503.19
  • Dow industrial average, down -62.25 points or -0.23% at 26672.40
For the week, the Dow led the way, while the NASDAQ index ended the week in the red. The final numbers are showing:
  • S&P index, up 1.25%
  • NASDAQ index, down -1.08%
  • Dow industrial average, up 2.29%
For the year, the NASDAQ index is the runaway leader. In fact it’s the only major indices in North America and Europe and is higher. The Shanghai CSI 300 is the only major indices higher on the year (up 10.94%). In the US the year-to-date numbers are showing:
  • S&P index, -0.19%
  • Dow industrial average -6.54%
  • NASDAQ index up 17.06%

Major indices break winning streaks

  
Analysis, US Market
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S&P and NASDAQ break a today winning streak. Dow industrial average breaks its 4 day winning streak

The major indices have broken their recent winning streaks. Admittedly the NASDAQ and the S&P index is at only reason for 2 straight days, but the Dow industrial average had a 4 day winning streak snapped in trading today.

The final numbers are showing:
  • S&P index -10.99 points or -0.34% at 3215.57
  • NASDAQ index -76.66 points or -0.73% at 10473.83
  • Dow industrial average -135.39 points or -0.50% at 26734.73
Below are the percentage changes and percentage high low ranges for the North American and European indices. Apart from the Italian FTSE MIB and the Portuguese PSI 20, the major indices all closed lower today.
S&P and NASDAQ break a today winning streak. Dow industrial average breaks its 4 day winning streak_After the close Netflix showed a greater than expected rise in new subscribers (10.1 million vs. 8.2M estimate),. But forecast Q3 subscribers much less than expectations at 2.5 million vs. 5.1 million estimate
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