July 22, 2022

In this strategy briefing…

Good Evening: Markets had a relatively strong week, given what we’ve been seeing, with a sour ending. This S&P 500 actually got above 4,000 today briefly but retreated into the close. Snap reported ... – The Wall Street DebriefRead more
We are starting to see strengthening internals for equity markets, including key leadership improvements from Technology (QQQ -0.07% ) and small-caps (IWM 0.05% ) and measures such as advance/decline lines. Thus, from the perspective of our Head of Technical ... – Tom Lee's Equity StrategyRead more
After equity market strength through Thursday, Friday saw some weakness as earnings and growth fears once again resurfaced. The earnings season has thus far been unimpressive to weak, and the guidance has clearly been more negative than ... – Alpha CityRead more

FS Insight Investment Views

Near Term View:Markets had a strong week but had a sour ending Friday after Snap’s earnings miss led to fears about other large-cap names that derive digital advertising revenue. Defensives showed strength.
‘22 Target:5,100 (YE P/E 20.5x · 2023 EPS $250)
Granny Shots:AAPL, MSFT, AMZN, CSCO, GOOG, QCOM, AVGO, GRMN, TSLA, NVDA, AMD, BF-B, PM, AMT, EXR, CCI, PG, MNST, KLAC, ALL, DVN, ISRG, GPC, BIIB, ABT, REGN, AZO, MRNA, FB, CVX, CF, XOM, AXP, PYPL
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