Folks, something strange is happening on Wall Street... There's a disconnect. And we're seeing it play out as analysts change their price targets.
Wall Street's Mixed Signals Are No Joke
By Vic Lederman, editorial director, Chaikin Analytics
Folks, something strange is happening on Wall Street...
There's a disconnect. And we're seeing it play out as analysts change their price targets.
Earlier this week, I explained that Bank of America (BAC) has raised its target price on chipmaker Nvidia (NVDA). Analysts there now think Nvidia's stock can reach roughly $190 per share.
That's a massive 35% jump from where NVDA shares are today around $140 per share. And that's after Nvidia has already soared by triple digits this year.
If anything, that's hugely optimistic on the broad market. That's because today's AI boom relies on the strength of the broad economy.
After all, consumers need to be able to pay for all this new tech.
But not everyone is so optimistic...
In fact, some of Wall Street's most famed analysts are calling for a decade of poor performance.
Put simply, Wall Street is sending mixed signals. And it's up to us to figure out where Wall Street is really focusing its attention today...
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You might have heard by now that investment-banking giant Goldman Sachs (GS) recently released a broad market forecast. It got a lot of attention in the financial media. And the forecast is gloomy.
Goldman expects 3% average returns for the S&P 500 Index over the next decade. In other words, it expects the market to return less than half of what we would normally see.
That's not just bad... it's terrible.
Yet as we just saw, other firms on Wall Street see huge results on the way. The AI boom is hot. And the S&P 500 has been making new highs.
Even more confusingly, earnings season tells us that the American consumer is doing better than you might think. Just look at Walmart (WMT)...
The retail titan reported earnings in August. And it beat expectations.
Not only that, Walmart raised its outlook for the rest of the year. And as the company's chief financial officer said on the earnings call...
In this environment, it's responsible or prudent to be a little bit guarded with the outlook, but we're not projecting a recession.
So once again, we're seeing mixed signals.
Some folks on Wall Street are "bearish." Others are "bullish."
This gets to the very foundation behind the Power Gauge. It's one thing to know what people say they think...
But it's a game changer to be able to see what they're doing with their money.
That's why the Power Gauge looks at 20 individual factors. These include ones that my colleague and Chaikin Analytics founder Marc Chaikin specifically designed to give users a look into how Wall Street, and the market's biggest players, are allocating their capital.
Today's market demands this kind of insight.
Imagine seeing the buying patterns of Wall Street right as it piles into a big-name stock... or what it looks like when Wall Street abandons a company.
This kind of action is exactly why Marc is about to make a big announcement next week...
On Tuesday, October 29, at 10 a.m. Eastern time, he's covering how to make sense of this action from Wall Street. It's part of his newest breakthrough. And it's the biggest one of his 50-year career.
Marc's on-camera reveal next week is free to attend. All you need to do is register in advance right here.
Good investing,
Vic Lederman
Market View
Major Indexes and Notable Sectors
# Hld: Bullish Neutral Bearish
Dow 30
-0.33%
10
17
3
S&P 500
+0.21%
137
279
77
Nasdaq
+0.81%
17
69
14
Small Caps
+0.23%
504
1037
379
Bonds
+0.64%
Consumer Discretionary
+3.15%
8
33
9
— According to the Chaikin Power Bar, Small Cap stocks and Large Cap stocks are somewhat Bullish. Major indexes are mixed.
* * * *
Sector Tracker
Sector movement over the last 5 days
Discretionary
+0.73%
Utilities
+0.12%
Communication
+0.07%
Real Estate
0.0%
Staples
-0.39%
Information Technology
-0.43%
Energy
-0.93%
Financial
-1.01%
Health Care
-1.98%
Industrials
-2.23%
Materials
-2.76%
* * * *
Industry Focus
Software & Services
39
90
12
Over the past 6 months, the Software & Services subsector (XSW) has underperformed the S&P 500 by -3.57%. However, its Power Bar ratio, which measures future potential, is Very Strong, with more Bullish than Bearish stocks. It is currently ranked #8 of 21 subsectors and has moved up 6 slots over the past week.
Top Stocks
PEGA
Pegasystems Inc.
ZM
Zoom Video Communica
CCSI
Consensus Cloud Solu
* * * *
Top Movers
Gainers
TSLA
+21.92%
MOH
+17.67%
WST
+15.43%
CBRE
+8.43%
POOL
+7.6%
Losers
NEM
-14.7%
TER
-11.02%
CARR
-8.82%
IQV
-7.27%
ROL
-6.57%
* * * *
Earnings Report
Reporting Today
Rating
Before Open
After Close
HCA
AMP
AON, CL, CNC, FI, HLT, MCO, NSC
TER
SHW
VLTO
No earnings reporting today.
Earnings Surprises
WY Weyerhaeuser Company
Q3
$0.05
Beat by $0.04
LUV Southwest Airlines Co.
Q3
$0.15
Beat by $0.11
DECK Deckers Outdoor Corporation
Q2
$1.59
Beat by $0.35
WST West Pharmaceutical Services, Inc.
Q3
$1.85
Beat by $0.36
DOC Healthpeak Properties, Inc.
Q3
$0.04
Missed by $-0.01
* * * *
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This work is based on SEC filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. It may contain errors, and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.
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