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Facebook, Disney Seen Pushing Record Stocks Even Higher

Facebook, Disney Seen Pushing Record Stocks Even Higher

By    |   Tuesday, 29 October 2019 09:25 AM

Analysts reportedly expect social media giant Facebook, Disney and red-hot software company Salesforce will contribute the most to the next leg of the bull market after the S&P 500 hit an all-time record high on Monday.

CNBC said it screened the largest 50 companies in the S&P 500, and found which stocks have the most upside to their consensus 12-month price target set by analysts on Wall Street.

“In other words, these are the big U.S. stocks analysts believe will be up the most in the next one year,” CNBC said.

“Despite the recent underperformance of growth stocks, specifically the so-called FANG (Facebook, Amazon, Netflix and Google) stocks, data shows Wall Street is bullish on a recovery in the group. Netflix, Facebook and Amazon are all expected to rally, and with such large market values, these stocks can certainly move the needle on the index,” the report said.

These are the stocks Wall Street thinks will lead the next leg of the bull market, CNBC said:

Company Ticker

  • Amazon (AMZN)
  • Boeing (BA)
  • Disney (DIS)
  • Facebook (FB)
  • Johnson & Johnson (JNJ)
  • Merck & Co. (MRK)
  • Netflix (NFLX)
  • PayPal (PYPL)
  • Salesforce (CRM)
  • UnitedHealth (UNH)

To be sure, President Donald Trump appaluded the S&P 500 record-setting performance.

"The S&P just hit an ALL TIME HIGH. This is a big win for jobs, 401-K’s, and, frankly, EVERYONE! Our Country is doing great. Even killed long sought ISIS murderer, Al-Baghdadi. We are stronger than ever before, with GREAT upward potential. Enjoy!" he wrote on Twitter.

However, not all investors are convinced stocks will continue to climb higher despite seemingly setting new record highs on a daily basis.
The outflow from U.S. equity funds this year has been the biggest since 2008, relative to the flood of money into cash and bonds, according to Goldman Sachs Group Inc.
That still leaves cash exposures “near historical lows,” according to Goldman strategists led by David Kostin. At 12%, the aggregate allocation to cash is only in the fifth percentile of the past 30 years, they calculated, Bloomberg reported.
“High uncertainty, investor fears of a recession, and low starting cash allocations will likely limit a significant increase in equity allocations” in 2020, the Goldman team wrote in an Oct. 25 note.

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StreetTalk
Analysts reportedly expect social media giant Facebook, Disney and red-hot software company Salesforce will contribute the most to the next leg of the bull market after the S&P 500 hit an all-time record high on Monday.
facebook, disney, stocks, record, higher
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2019-25-29
Tuesday, 29 October 2019 09:25 AM
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