Forbes Daily: Summer Markets Stay Hot Amid Confidence In The S&P 500
Stocks are riding high on earnings and AI, a stark shift from this spring’s tariff-induced chaos.
Both the S&P 500 and Nasdaq reached intraday records Monday, before reducing the gains slightly, buoyed by increases among the “Magnificent Seven.” Analysts expect the marquee S&P to gain an additional 5.4% by the end of the year, according to FactSet. Wells Fargo Securities’ chief U.S. equity strategist Christopher Harvey is particularly bullish, even with President Donald Trump’s continued tariff threats, predicting an 11% increase over Friday’s closing price.
“The S&P is not the same as it was 25 years ago,” Harvey told Bloomberg. “It is much stronger, the fundamentals are much better today than they were back then.”
The release includes more than 240,000 pages of the FBI’s surveillance of the civil rights leader, which had been under seal for decades.
The Justice Department and U.S. intelligence officials on Monday unveiled records detailing the FBI’s surveillance of civil rights leader Martin Luther King Jr., years ahead of their originally scheduled release. King’s living children said in a statement that the release, which contains more than 240,000 pages of documents, should be “viewed within their full historical context,” adding that their father was “relentlessly targeted” by an FBI surveillance campaign. Critics of President Donald Trump have claimed that the release is an effort to divert attention from the Jeffrey Epstein controversy.
Shipping billionaire John Fredriksen is the latest super-wealthy resident to announce plans to leave the United Kingdom, and is reportedly selling his 300-year-old Georgian manor in London, one of Britain’s most expensive houses. A recent Henley & Partners report found that Britain is losing millionaires and billionaires faster than any other of the world’s wealthiest countries, likely due to tax reforms. Fredriksen said he would relocate to the United Arab Emirates.
Former Astronomer CEO Andy Byron was caught on a "kiss cam" at a Coldplay concert with a company employee who is not his........
© Forbes
