S&P 500 hits record highs amid inflation and low consumer confidence — Wall Street sees more gains ahead
By
Aimee Picchi
4d ago· 5 min readenNews
92/100
Golden Brown
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Master baker tier. Every paragraph earns its place on the tray.
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Summary
The S&P 500 is hitting record highs despite soaring gasoline prices, high inflation, sliding consumer confidence, and geopolitical tensions like the Iran conflict. Wall Street analysts, including Goldman Sachs, believe the rally has more room to run. The article explains the apparent disconnect between a booming stock market and a dour economic mood among consumers.
Key quotes
· 3 pulledThe S&P 500 is on a hot streak, notching nine record highs in May alone despite soaring gasoline prices, sliding consumer confidence and the highest inflation in almost three years.
The rally in stocks also has more room to run, according to Wall Street analysts.
On Wednesday, Goldman Sachs upped its target for the S&P 500, projecting that the...
The S&P 500 hit a new record on Wednesday, even as soaring gas prices fuel inflation and consumer confidence sinks.
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