RBC Capital Market’s strategist admits to being a ‘nervous and jumpy bull’

  • RBC Capital Market’s head of global equity strategy raises year-end S&P 500 target
  • Risks of a near-term pullback growing, with a 5% to 10% decline likely
  • Uncertainty over U.S. election dynamics adds to market volatility
  • U.S. stocks may struggle to transition away from mega cap growth
  • Small cap stocks may outperform after Fed cuts

RBC Capital Market’s head of global equity strategy, Lori Calvasina, has raised her year-end S&P 500 target to 5,700 from 5,300. However, she admits to being a ‘nervous and jumpy bull’ as risks of a near-term pullback grow. Calvasina sees a 5% to 10% decline likely, but believes it will be a temporary setback on the path to recovery. She also highlights the uncertainty over U.S. election dynamics and the potential difficulty for U.S. stocks to transition away from mega cap growth. Calvasina suggests that small cap stocks may outperform after the Federal Reserve cuts rates.·

Factuality Level: 1
Factuality Justification: The article contains irrelevant information about stock market predictions and personal opinions of a specific strategist. It includes details that are tangential to the main topic and does not provide accurate and objective information.·
Noise Level: 2
Noise Justification: The article contains a lot of noise, filler content, and irrelevant information such as unrelated stock market data, random reads, and unrelated news stories. The main focus on the stock market predictions and analysis is somewhat relevant but gets lost in the noise.·
Public Companies: RBC Capital Markets (N/A), Citigroup (N/A), Salesforce (CRM), Silvergate (N/A), FTX (N/A), Air Europa (N/A), Boeing (N/A)
Key People: Lori Calvasina (Head of Global Equity Strategy at RBC Capital Markets), Jerome Powell (Federal Reserve Chairman), Marc Benioff (CEO of Salesforce)

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Financial Relevance: Yes
Financial Markets Impacted: S&P 500, Nasdaq, U.S. equity futures, Treasury yields, oil, auto sales, Job openings data
Financial Rating Justification: The article discusses the S&P 500 target being raised to 5,700 from 5,300, a potential near-term pullback of 5% to 10%, and impact on financial markets such as Nasdaq, U.S. equity futures, Treasury yields, oil, auto sales, and Job openings data.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of any extreme event in the article.·

Reported publicly: www.marketwatch.com