Posted 3/25/2024, 9:03:04 PM
S&P 500 Target Upgraded to 5,500 as Energy Sector Outperforms and Bitcoin Rebounds
- Oppenheimer upgrades S&P 500 year-end target to 5,500 from 5,200, hitting previous target less than 3 months into year
- Energy sector rallies over past month, up 8.5% compared to less than 3% for other sectors
- Bitcoin back above $70K threshold, sees best 24-hour performance in past year per Yahoo Finance data
- Analysts debate whether upside or downside risks outweigh the other for markets
- Fed policy clarity seen as potential catalyst for interest rate-sensitive sectors to join rally