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Closing Bell

Closing Bell Overtime: Wall Street’s Biggest Bull: Evercore’s Julian Emanuel On Street High S&P 500 Call; Boeing CEO On The Hill 6/18/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 18 June 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Evercore’s Julian Emanuel breaks down why he is raising his year-end price target for the S&P 500 to 6,000. Nvidia closed above Microsoft in market valuation for the first time; Bespoke’s Paul Hickey and Stifel’s Barry Bannister break down where tech goes from here. Two Boeing analysts break down CEO Dave Calhoun’s hearing before the Senate.

Transcript

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0:00.0

Stocks just keep marching higher with the S&P 500 and NASDAQ closing at record highs and the

0:07.3

Dow in the green for a second straight day.

0:10.3

And we also have a new most valuable company on Wall Street with

0:14.1

invidia passing Microsoft in market cap and that's the scorecard on Wall Street

0:19.1

but winners stay late. Welcome to Closing Bell overtime. I'm John Fort

0:22.0

with Morgan Brennan.

0:23.2

Tech and industrial's, the big winners today.

0:25.6

Communication services, consumer discretionary,

0:28.4

underperforming, but coming up the biggest bull on Wall Street,

0:31.0

ever core ISI's Julian Emanuel on why he just

0:34.7

hiked his year-end S&P price target to 6,000 that's a new street high and

0:40.2

what he thinks will drive the market to that level.

0:43.0

Plus, we will get another read on the health of housing

0:46.0

when K-B-home releases earnings in just a few minutes,

0:49.0

instant analysis of those results is coming up.

0:52.0

But first, let's get to today's action with our market panel, the spoke co-founder Paul

0:56.8

Hickey and Stevele Chief Equity Strategist Barry Bannister guys welcome Barry

1:02.4

the 10-year

1:03.4

Treasury yield eased up again today back to levels down where they were

1:09.3

late March at the S&P closed around 5488.

1:15.0

Now all that said, I believe you still see what would be a violent correction

1:20.2

for the S&P by end of summer.

...

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