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Wall Street Firms Slashing Targets

By Richard Russell

 

Today we have a mixed bag of a market that I find neutral. For one thing, the Dow is up 52 points as I write, which pulls it to 16,324. Against that, we have the Transports down 20, but still bullishly above 7,000. The very important Nasdaq is up 25 to 4,652. The 25 point rise in the Nasdaq cancels out the 20 point drop in the Transports. This leaves the NYSE, which is up 55 points to 9,876, well above the 9,000 big number. So, all in all, I see this market as neutral and poised to go either way.

 

Since the start of 2015, 9 out of 17 wall street firms polled by Bloomberg have slashed their year end price targets for the S&P 500 stock index.

 

The financial news is bearish enough with US manufacturing barely advancing. This alone should stop the Federal Reserve from raising rates this year or ... Log in or subscribe to continue reading.


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