by Josh Schafer
Yahoo! Finance
After a rough start to 2024, the latest inflation data may very well mean more fuel for the current stock market rally.
“Inflation falling continues to be one of the primary factors behind the bull market in stocks,” Julian Emanuel, who leads Evercore ISI’s equity, derivatives, and quantitative strategy, wrote in a note to clients.
On Sunday, Emanuel boosted his year-end price target for the S&P 500 (^GSPC) to 6,000 from 4,750. Emanuel cited the promising inflation path and the “early innings” of the AI trade when moving his year-end target to the highest on Wall Street.