economy
Evercore ISI says landmark SpaceX IPO could reignite bull market, send S&P 500 to 9,000
Strategist Julian Emanuel likened the early enthusiasm around SpaceX to the Netscape IPO of 1995 that ushered in a period of optimism around the internet.
TL;DR
- SpaceX's IPO is expected to ignite the next leg of the bull market.
- The S&P 500 could reach 9,000 in a bull case scenario, according to Evercore ISI.
- The current enthusiasm around SpaceX is compared to the Netscape IPO in 1995.
- Upcoming IPOs from Anthropic and OpenAI are also expected to be market turning points.
- Absence of recession signals and elevated, contained yields suggest a peak is not imminent.
- A record $7.9 trillion in money market funds provides significant liquidity for market growth.
- Annual IPO volumes are historically tame compared to previous market peaks, despite high-profile debuts.