We're lifting our price targets on 2 stocks that have shaken off AI disruption concerns
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Stocks rallied on Thursday, with the S&P 500 on pace for its best session since early August.
- Treasury yields fell after Federal Reserve Governor Christopher Waller expressed favor for keeping interest rates steady, impacting rate hike expectations.
- Enterprise software stocks, particularly Microsoft and Salesforce, were major gainers, rallying significantly since late July.
- Price targets for Microsoft were raised to $550 from $500, and for Salesforce to $290 from $250.
- Friday is jobs day, with economists expecting the economy to add 65,000 jobs in August and the unemployment rate to increase slightly.
- Jim Cramer's Charitable Trust follows specific trading alert protocols for subscribers.