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Another Wall Street strategist is lowering her year-end target on the S&P 500 (^GSPC), citing economic growth concerns. Following the S&P 500’s recent 10% drawdown, RBC Capital Markets head of US equity strategy Lori Calvasina lowered her year-end target to the S&P 500 to 6,200 from 6,600. Calvsina’s revised outlook on the S&P 500 comes after both Goldman Sachs and Yardeni Research lowered their targets last week. “While we don’t believe that a pullback beyond the 10% drawdown that has already been sustained is inevitable, we do believe that the path for stocks between now and December has gotten rockier…
Oil’s recent descent has prompted Goldman Sachs analysts to lower their price target for the year, in part due to expectations of softer economic growth amid President Trump’s tariff policies. The firm reduced its December 2025 forecast for Brent crude oil by $5 (BZ=F) to $71 per barrel. Brent prices have fallen more than 3% year to date. Initiatives by the Trump administration to broker a peace deal between Russia and Ukraine and efforts for a potential nuclear agreement with Iran have eased supply worries. Meanwhile, some economists have cut their growth forecasts amid a string of disappointing data and…
Listen and subscribe to Opening Bid on Apple Podcasts, Spotify, YouTube, or wherever you find your favorite podcasts. Nvidia (NVDA) investors have had an un-Nvidia-like year so far. Shares of the AI chip darling tanked 10% as investors fret over exposure to China in President Trump’s trade war and possible overbuilding of AI infrastructure. The company’s cautious first quarter margin outlook did little to ease worries. The stock is below its key 50-, 100-, and 200-day moving average, a major sign of lost momentum among traders. “I guess you can call it a healthy consolidation [in Nvidia],” Evercore ISI technical…
Investor disillusionment with President Trump’s economic agenda continues to mount. The surprising message from Trump and his top advisers: Bring it. Two months into Trump’s presidency, stocks are down, and Trump and the investing community are unfriending each other. Wall Street expected the businessman-president to push market-friendly policies and put a floor under asset prices. Instead, Trump has imposed import tariffs more aggressively than anybody expected and dismissed the inevitable adverse reaction in markets. Stock reversals highlight the whiplash. The S&P 500 (^GSPC) index hit a new high on Feb. 19, marking the moment of peak optimism in Trump 2.0.…
Nvidia (NVDA) kicks off its annual GTC conference on March 18 with a keynote by CEO Jensen Huang from the SAP Center in San Jose, Calif. The event, which runs through March 21, will feature workshops and training for developers and engineers, panels and discussions related to AI and robotics, and exhibits from companies showing off how they’re using Nvidia’s products in the real world. Huang is expected to debut the company’s latest flagship AI chip: the Blackwell Ultra. A souped-up version of Nvidia’s existing Blackwell chip, Blackwell Ultra should get a performance boost over last year’s chip to further…
President Trump said Monday that Federal Reserve governor Michelle Bowman would be the central bank’s new vice chair for supervision, tapping a former Kansas banking commissioner as the Fed’s top banking cop. Bowman could take oversight of giant US banks in a new direction as the Trump administration makes it clear it wants to lift constraints on lenders and overhaul a regulatory framework put in place following the 2008 financial crisis. “Our Economy has been mismanaged for the past four years, and it is time for a change,” Trump said in a social media post Monday. “Miki has the ‘know-how’…
Investors are hearing a lot these days from Trump economic officials about trade and DOGE and the benefits of falling stock prices — but not as much about things that could stop the selling, such as the push for tax cuts. That’s in part because tariff talk is perhaps drowning out everything else for markets but also because the slow pace of Capitol Hill tax talks has offered Trump’s team very little in the way of news to share. A recent example of the dynamic came over the weekend when Trump’s top tax evangelist, Treasury Secretary Scott Bessent, appeared on…
The Federal Reserve is widely expected to hold interest rates steady when it meets this week, but investors will be watching for something else — any sign that President Trump’s policies are changing the central bank’s future expectations for the economy. The Fed’s latest round of projections released Wednesday will include the much-studied “dot plot,” a chart updated quarterly that shows each Fed official’s prediction about the direction of the central bank’s benchmark interest rate. The last dot plot, released in December, revealed a consensus among Fed officials for two cuts this year, revised down from four, as some were…
Nvidia (NVDA) CEO Jensen Huang announced the company’s next-generation Blackwell Ultra AI chip during its annual GTC event in San Jose, Calif., on Tuesday. In addition to the Blackwell Ultra chip, Nvidia also announced its GB300 superchip, which combines two Blackwell Ultras with the company’s Grace central processing unit (CPU). The chips are designed to power AI systems for customers ranging from hyperscalers like Amazon (AMZN), Google (GOOG, GOOGL), Microsoft (MSFT), and Meta (META) to research labs around the world. NasdaqGS – Delayed Quote • USD At close: March 18 at 4:00:00 PM EDT According to Nvidia, the Blackwell Ultra…
Egg sticker shock could soon be declining, but it may be a good time to get in on the shares of their producers. For the last three weeks, wholesale prices have been falling from above $8 for a dozen white, large eggs to roughly $4, per the latest USDA report on March 14. Over the past week, prices fell 39% from $6.85 to $4.15, though it’ll take time for retail prices to catch up. The drop reflects the “highly volatile” nature of eggs and that consumers are “responding to high prices by buying fewer eggs,” Texas A&M University professor David…