US futures continue to push up as investors stay more optimistic
The session started with a more tepid mood but we're seeing a more risk-on tilt start to develop again now. European stocks are holding modest gains since the open while US futures continue to push up after the record closes in the S&P 500 and Nasdaq yesterday. Of note, S&P 500 futures are up 0.3% while Nasdaq futures are up 0.4% on the day now.
The ball just keeps rolling.
While the broader market mood is driven by hopeful optimism on the US-Iran conflict, AI optimism is also helping to drive further gains in US equities this week.
Memory chipmaker, Micron, is one that stands out after seeing its market value exceed $1 trillion for the first time. But overall, tech shares are doing well following a strong earnings season in Q1. That led to more analysts revising their calls to be more bullish on US stocks for the year ahead.
Goldman Sachs is the latest to raise their year-end forecast for the S&P 500 to 8,000 from 7,600 previously. But last week, we also saw Morgan Stanley and UBS Global Wealth Management make similar calls here.
And the more bullish calls/changes are building up investor confidence in the market, especially as US-Iran risks appear to be fading.
All that being said, just be wary that a lot of optimism on a framework agreement is being baked in. But if the details fail to match up to what is hoped for, we could end up with a buy the rumour, sell the fact situation.
That especially if the puzzle pieces for a big picture deal don't fit at the end of the day.
This article was written by Justin Low at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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