While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday morning as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
With the less than 2% from its historic all-time high, the bull market is one good day away from setting a record.
Securities forecasters on Wall Street believe the stock market will zoom past that new high and keep going. In fact, company analysts collectively see a 7% gain in store over the next 12 months for the benchmark, based on their individual 12-month price forecasts for S&P 500 companies, according to calculations from FactSet.
FactSet takes individual company analysts' 12-month price targets and adds them up to get a top-line forecast of the overall market, which shows the S&P 500 could reach 3,097, or 7% from here, over the next year. This forecast is more bullish than the top-down forecast from Wall Street's macro forecasters, who see a slight increase in the S&P 500 to 2,950.
Based on the difference between the bottom-up target price and the current trading level, Nektar is set to have 110% upside in the next 12 months. Industry analysts are also particularly bullish on medical implant manufacturer Abiomed, and oil and natural gas company Diamondback Energy.
On the other end of the spectrum, semiconductor company Advanced Micro Devices, asset manager Franklin Resources, Chipotle Mexican Grill, semiconductor manufacturer Xilinx, and lab and software company Waters Corp. are set to have double-digit losses.
To be sure, Wall Street has not always been accurate in predicting the future value of the market. In fact, these individual company analysts tend to be overly optimistic. Over the past five years, the S&P 500 has ended up 1.5% lower than their forecast. Over the past 15 years, the index has been almost 10% below Wall Street's target.