CNBC Daily Open: U.S. economy sparks optimism
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 27 2024
0mins
Source: CNBC
- Markets Update: Wall Street closed lower as investors awaited inflation data, with the Dow Jones falling 0.16%, S&P 500 down 0.38%, and Nasdaq dropping 0.13%. Bitcoin rose above $54,000.
- Zoom Performance: Zoom's shares surged after exceeding revenue and profit estimates, despite slower growth due to a sales reorganization.
- Dimon on AI: JPMorgan CEO Jamie Dimon expressed optimism about AI, stating it is not a passing fad but a real technology.
- U.S. Semiconductor Hub: U.S. aims to become a significant semiconductor chip hub by 2030, producing 20% of leading-edge logic chips globally.
- Economic Outlook: Forecasters are increasingly positive about the U.S. economy, with revised GDP forecasts for 2024 and declining recession fears among experts and investors.
Analyst Views on SPGI
Wall Street analysts forecast SPGI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPGI is 617.77 USD with a low forecast of 546.00 USD and a high forecast of 675.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 539.800
Low
546.00
Averages
617.77
High
675.00
Current: 539.800
Low
546.00
Averages
617.77
High
675.00
About SPGI
S&P Global Inc. provides essential intelligence. Its operations consist of five businesses: S&P Global Market Intelligence (Market Intelligence), S&P Global Ratings (Ratings), S&P Global Commodity Insights (Commodity Insights), S&P Global Mobility (Mobility) and S&P Dow Jones Indices (Indices). Market Intelligence is a global provider of multi-asset-class data and analytics integrated with purpose-built workflow solutions. Ratings is an independent provider of credit ratings, research, and analytics, offering investors and other market participants information, ratings and benchmarks. Commodity Insights is an independent provider of information and benchmark prices for the commodity and energy markets. Mobility is a provider of solutions serving the full automotive value chain, including vehicle manufacturers and retailers. Indices is a global index provider that maintains a variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
