VIDEO: Macro Minute Mid-Year Update - Raising S&P 500 YE Target to 4,825 from 4,750, implies at least +8% in 2H (maybe more). P/E ex-FAANG is only 0.7X higher to 16.4X, hardly demanding.

We discussed why we raise our YE target from 4,750 to 4,825 (implied +8% in 2H). The rise in stock prices over the past 9 months is the start of a new bull market. This new bull market will be driven by AI advancements and the Fed's successful efforts in curbing inflation.

Please click below to view today’s Macro Minute (duration: 6:47).

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