Wall Street bullish on stocks despite trade threats, new targets raised, mixed economic signals.

Wall Street strategists are bullish on stocks despite fresh trade threats. Goldman Sachs raised its year-end S&P 500 target to 6,600, citing Fed rate cuts. Bank of America followed with an upgrade to 6,300. Trade tensions reignited as Trump threatens 25% tariffs on imports from Japan and South Korea, sending stocks lower.

Stocks have rebounded since Trump’s initial tariff threats. The White House extended the tariff deadline to Aug. 1, signaling a negotiating strategy. Some investors refer to this as the “TACO trade,” believing Trump often backs down on tariffs. Uncertainty lingers as the tariff landscape shifts.

Economic signals are mixed, with downward GDP revisions and rising PCE inflation. Jobless claims are at their highest since 2021. Analysts warn of potential economic red flags and uncertainty in the near future. The economy is at a crucial juncture, with potential risks on the horizon. 1. The FDA has approved a new Alzheimer’s drug, Aduhelm, for the first time in nearly 20 years. The drug is designed to target the underlying cause of the disease rather than just treating symptoms. This decision has sparked controversy among experts due to limited evidence of its effectiveness.

2. Tesla’s CEO Elon Musk announced that the company will no longer accept Bitcoin as payment for their electric vehicles, citing concerns over the environmental impact of mining the cryptocurrency. This decision caused the value of Bitcoin to drop significantly.

3. In response to the ongoing COVID-19 pandemic, the CDC has updated its guidelines for fully vaccinated individuals. They now state that fully vaccinated people no longer need to wear masks or practice social distancing in most indoor and outdoor settings, except in certain crowded or high-risk situations.

4. The Colonial Pipeline, which supplies nearly half of the East Coast’s fuel, was forced to shut down due to a cyberattack. The hackers demanded a ransom in exchange for restoring service, causing widespread panic and fuel shortages in several states. The FBI has attributed the attack to a Russian-based group.

Read more at Yahoo Finance: Wall Street is getting more bullish on stocks as trade uncertainty lingers