S&P 500’S 8,000 MILESTONE REMAINS ELUSIVE
The S&P 500 is still 5.4% away from 8,000, as rising bond yields, sticky inflation and a hawkish Fed outlook stall the rally.
CFRA still targets 8,050 by year-end, but warns a 5%-10% correction would not be unusual. Despite the macro risks, Wall Street remains relatively calm, with the VIX below 20 and corporate earnings providing support.
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