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CNBC's "Fast Money"

Even More Reason to Be Bullish? And the Beaten Down Sector Setting Up For Gains 6/17/24

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 17 June 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

There’s a new biggest bull on Wall Street, as Evercore’s Julian Emanuel ups his year-end price target on the S&P by 25% to a whopping 6,000/ What’s going to drive those returns and how should you play the market? Plus Industrials have been struggling so far in 2024, but one top technician says these names are about to witness a turnaround. We go off the charts to get the details. Fast Money Disclaimer

Transcript

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0:00.0

Live from the NASDAQ market site in the heart of New York City's Times Square.

0:06.0

This is fast money.

0:07.0

Here's what's on tap tonight.

0:08.0

All bold up as this year's winners keep winning and records keep falling.

0:12.0

The street is starting to crank up its price

0:14.4

targets for stocks. Is it possible the rally is just getting wrapped up for a new run?

0:19.2

We'll debate that. Plus, Best Buy breakout, why one Wall Street firm is putting it on the thigh list and says

0:24.7

the stock is poised to surge higher from here.

0:26.9

The details coming up.

0:28.3

And later, using AI to try to make lemonade out of lemons, the story of how a slumping insurance company is

0:34.6

using machine learning to mitigate risk and create coverage options for GenZ

0:38.2

and Beyond. The CEO of Lemonade will be here with us on set. I'm Melissa Lee coming to you live from Studio

0:43.5

Be at the Nasak on the desk tonight. Tim Seymour, Guy Dami, Julie Beale and

0:47.4

Chris Varoan head of technical strategy at Strutigis, A Baird Company.

0:51.2

And we start off with a possible reason to get even more

0:54.3

bullish, yes even more bullish on the market if that's possible. The S&P and

0:58.7

NASAC both notching fresh all-time highs today. The benchmark S&P now up nearly 15% this year,

1:04.6

posting 30 record closes along the way and that kind of run has Wall Street

1:08.8

analysts rushing to play catch-up. Goldman Sachs is David Kostin upping his year-end target for the

1:14.3

S&P to 5,600 more than 2% higher from here and Evercours Julian Emanuel going

1:20.1

from a year-end forecast of 4750 to a whopping 6,000 making him the new biggest bull

1:26.0

on the street.

...

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