Wall Street's Great Debate, Regional Bank Sell-Off, and Year-End S&P 500 Target 03/04/24
Mar 4, 2024
auto_awesome
Wall Street's debat on rally factors, New York Community Bank's stock rise, Bank of America's raised S&P 500 target for year-end. Insightful views from market experts on trading week ahead and regional bank outlook.
Wall Street debates factors fueling rally vs. working against it.
Shares of New York Community Bank rise after reaching lowest level since 1997.
Bank of America raises S&P 500 year-end target to 5,400, reflecting positive outlook.
Deep dives
Boeing in Talks to Buy Spirit AeroSystems to Correct Production Flaws
Boeing and Spirit AeroSystems are discussing a potential acquisition as both companies seek to address production issues related to the 737 MAX 9 blowout in January. Shares of Boeing are trading relatively flat, while Spirit AeroSystems is up approximately 2% in the pre-market.
Super Micro and Deckers Outdoor Surge After S&P 500 Inclusion Announcement
Super Micro and Deckers Outdoor will be added to the S&P 500 on March 18th, following the index's quarterly rebalancing. This news has led to significant surges in their stock prices in pre-market trading, with Super Micro registering double-digit gains.
Our House and Brigade Capital Raise Takeover Offer for Macy's
R-House and Brigade Capital have increased their buyout offer for Macy's to $6.6 billion, almost $1 billion higher than their initial bid. This move reflects a continued interest in acquiring the luxury retailer.
OPEC+ Extends Output Cuts, Brent Crew Trading near $83.50
OPEC+ countries have agreed to extend voluntary output reductions until at least mid-year, with Saudi Arabia implementing a 1 million barrel per day cut. This decision has impacted oil prices, with Brent Crew trading at around $83.50 per barrel.
Bank of America Raises S&P Year-End Price Target to $5,400
Bank of America has increased its year-end price target for the S&P 500 to $5,400, aligning it with UBS as the highest forecast on the street. This adjustment reflects a positive outlook for the stock market.
Wall Street is debating whether the factors fueling the rally are stronger than those working against it. Clockwise Capital's James Cakmak and Milken Institute's William Lee lay out their views. Plus, shares of New York Community Bank are ticking up today after closing at their lowest level since 1997 on Friday. Mendon Capital's Anton Schutz discusses the outlook. And, Bank of America is raising its S&P 500 price target to 5,400 by year-end. New Street Advisors' Delano Saporu and Delancey Wealth Management's Ivory Johnson weigh in on the new trading week.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode