📊 Market ATH (Another One!)

» Bank of America's ($BAC) boosted their S&P 500 target to 5,400, signaling a bullish outlook on stronger economic growth and profit margins in 2024. Despite potential for a near-term pullback, broad market earnings growth and a race among Wall Street strategists to update targets reflect an underlying optimism not yet reaching euphoria. (link)

» Federal Reserve Chair Jerome Powell is set to reinforce his stance on maintaining current interest rates, signaling no immediate cuts despite ongoing inflationary pressures. His upcoming testimony on Capitol Hill underscores the Fed's cautious approach, with a focus on economic data and inflation trends as guiding factors for future monetary policy decisions. (link)

» Saudi Arabia, Russia, and other key OPEC+ producers have announced the extension of their voluntary crude supply cuts until the end of June, in a concerted effort to support and stabilize oil prices. Amid fluctuating oil prices and geopolitical tensions, this move reflects the coalition's strategy to manage market supply and enhance price stability. (link)

» Viking Therapeutics ($VKTX) shines as a key player in the weight loss drug market, with its treatment potentially surpassing leaders like Eli Lilly ($LLY) Novo Nordisk ($NVO). After its trial results boosted shares by 120%, Viking emerges both as an innovator in obesity treatment and a top acquisition target. (link)

» Amid increasing risks in the junk-bond market, over 40% of Bloomberg Markets Live Pulse survey respondents see private credit as the top performer in the next 12 months, despite anticipating lower returns and quality. This preference is driven by private loans' potential for high returns, low volatility, and resilience in uncertain economic conditions, even as concerns over transparency and risk mispricing in the $1.7 trillion sector grow. (link)

» As bond yields rise unexpectedly, major investors from Pimco to DWS are ready to capitalize on potential dips, seeing the current economic slowdown as a buying opportunity for US debt. Despite some shifting away from Treasuries due to recent robust economic indicators, others anticipate attractive entry points, especially if yields hit 4.5%. (link)

The bulk of earnings season is largely over. The few major earnings releases scheduled for this week are summarized below:

Economic releases expected Mon-Tues summarized below.
Red = Important

A wise man changes his mind, a fool never will.