FXStreet reports that economists at Morgan Stanley apprise that ending the year at around 2750 for the S&P 500 would imply lingering issues beyond a garden-variety recession that currently seem unlikely.
“We still think that 2750 may be a reasonable year-end bear case for the S&P.”
“We've been watching 2550-2600 as a level for the S&P in an overshoot—a level the S&P has already traded below. Further investor reductions in gross exposure could push the liquidity-driven overshoot further than we expected.”
“For investors with a 6-12-month horizon, the 2550-2600 level may offer an attractive risk-reward buying opportunity.”
In its press release, the European central bank said:
U.S. stock-index futures rose on Friday, as Fed's massive stimulus underpinned investor sentiment, halting the worst monthly selloff in U.S. equities in three decades.
Global Stocks:
| Index/commodity | Last | Today's Change, points | Today's Change, % |
| Nikkei | 16,552.83 | -173.72 | -1.04% |
| Hang Seng | 22,805.07 | +1,095.94 | +5.05% |
| Shanghai | 2,745.62 | +43.49 | +1.61% |
| S&P/ASX | 4,816.60 | +33.70 | +0.70% |
| FTSE | 5,225.70 | +74.09 | +1.44% |
| CAC | 4,027.72 | +172.22 | +4.47% |
| DAX | 8,923.67 | +313.24 | +3.64% |
| Crude oil | $ | | |
| Gold | $1,499.10 | | +1.34% |
(company / ticker / price / change ($/%) / volume)
| 3M Co | MMM | 139 | 1.49(1.08%) | 24391 |
| ALCOA INC. | AA | 6.1 | 0.27(4.63%) | 18761 |
| ALTRIA GROUP INC. | MO | 37.62 | 0.52(1.40%) | 57686 |
| Amazon.com Inc., NASDAQ | AMZN | 1,928.05 | 47.12(2.51%) | 151486 |
| American Express Co | AXP | 77.93 | 0.86(1.12%) | 44813 |
| AMERICAN INTERNATIONAL GROUP | AIG | 22.12 | 1.52(7.38%) | 22751 |
| Apple Inc. | AAPL | 248.25 | 3.47(1.42%) | 947734 |
| AT&T Inc | T | 31.3 | 0.15(0.48%) | 362860 |
| Boeing Co | BA | 98.8 | 1.09(1.12%) | 749984 |
| Caterpillar Inc | CAT | 103.81 | 0.80(0.78%) | 22842 |
| Chevron Corp | CVX | 57.51 | 0.12(0.21%) | 65743 |
| Cisco Systems Inc | CSCO | 38.7 | 0.99(2.61%) | 143252 |
| Citigroup Inc., NYSE | C | 40.82 | 1.18(2.98%) | 148330 |
| E. I. du Pont de Nemours and Co | DD | 32.8 | 1.14(3.60%) | 13818 |
| Exxon Mobil Corp | XOM | 35.07 | 0.64(1.86%) | 284089 |
| Facebook, Inc. | FB | 155.98 | 2.85(1.86%) | 263499 |
| FedEx Corporation, NYSE | FDX | 114.25 | 2.57(2.30%) | 8248 |
| Ford Motor Co. | F | 4.57 | 0.10(2.24%) | 497472 |
| Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 6.05 | 0.31(5.40%) | 57045 |
| General Electric Co | GE | 6.84 | 0.36(5.56%) | 1258612 |
| General Motors Company, NYSE | GM | 18.65 | 0.94(5.31%) | 46563 |
| Goldman Sachs | GS | 150.5 | 1.01(0.68%) | 33947 |
| Google Inc. | GOOG | 1,143.94 | 28.65(2.57%) | 20692 |
| Home Depot Inc | HD | 162.59 | 1.46(0.91%) | 46531 |
| HONEYWELL INTERNATIONAL INC. | HON | 120.99 | 2.03(1.71%) | 16901 |
| Intel Corp | INTC | 47.17 | 1.23(2.68%) | 216648 |
| International Business Machines Co... | IBM | 101.04 | 0.70(0.70%) | 61219 |
| International Paper Company | IP | 33.39 | 3.26(10.82%) | 12914 |
| JPMorgan Chase and Co | JPM | 86.5 | 1.20(1.41%) | 143524 |
| McDonald's Corp | MCD | 150.5 | 1.00(0.67%) | 38407 |
| Merck & Co Inc | MRK | 71.63 | 0.90(1.27%) | 77425 |
| Microsoft Corp | MSFT | 146.95 | 4.24(2.97%) | 807221 |
| Pfizer Inc | PFE | 31.04 | 0.62(2.04%) | 206832 |
| Procter & Gamble Co | PG | 112 | 1.17(1.06%) | 60753 |
| Starbucks Corporation, NASDAQ | SBUX | 62.75 | 1.34(2.18%) | 88786 |
| Tesla Motors, Inc., NASDAQ | TSLA | 432.99 | 5.35(1.25%) | 753679 |
| The Coca-Cola Co | KO | 42.6 | 0.77(1.84%) | 222568 |
| Twitter, Inc., NYSE | TWTR | 24.8 | 0.67(2.78%) | 165583 |
| United Technologies Corp | UTX | 83 | -0.76(-0.91%) | 314373 |
| UnitedHealth Group Inc | UNH | 220.05 | 0.25(0.11%) | 27196 |
| Verizon Communications Inc | VZ | 54.45 | 0.83(1.55%) | 120183 |
| Visa | V | 154.7 | 2.45(1.61%) | 45953 |
| Wal-Mart Stores Inc | WMT | 123.5 | 4.05(3.39%) | 104926 |
| Walt Disney Co | DIS | 95.55 | 0.62(0.65%) | 166191 |
| Yandex N.V., NASDAQ | YNDX | 31.34 | 0.72(2.35%) | 11659 |
JPMorgan Chase (JPM) upgraded to Buy from Hold at DZ Bank; target $100
Uber (UBER) upgraded to Overweight from Equal Weight at Wells Fargo; target lowered to $41
Boeing (BA) upgraded to Hold from Sell at Nord/LB
NIKE (NKE) upgraded to Buy from Neutral at BofA/Merrill; target lowered to $85
| Index | Change, points | Closed | Change, % |
|---|---|---|---|
| NIKKEI 225 | -173.72 | 16552.83 | -1.04 |
| Hang Seng | -582.69 | 21709.13 | -2.61 |
| KOSPI | -133.56 | 1457.64 | -8.39 |
| ASX 200 | -170.3 | 4782.9 | -3.44 |
| FTSE 100 | 71.03 | 5151.61 | 1.4 |
| DAX | 168.72 | 8610.43 | 2 |
| CAC 40 | 100.66 | 3855.5 | 2.68 |
| Dow Jones | 188.27 | 20087.19 | 0.95 |
| S&P 500 | 11.29 | 2409.39 | 0.47 |
| NASDAQ Composite | 160.74 | 7150.58 | 2.3 |