News

Glonghui, April 13 — According to reports, Nasdaq announced last week that SanDisk will join the Nasdaq 100 Index before the opening on April 20. In addition, several Wall Street investment banks remain optimistic about SanDisk. Bernstein raised its target price from $1,000 to $1,250, and Mizuho raised its target price from $710 to $1,000.

Glonghui, April 13 – Morgan Stanley strategists stated that the acceleration of corporate earnings growth is providing support for the S&P 500 Index, preventing a deeper decline and, at the same time, masking a broader correction in the US stock market. The team led by Michael Wilson pointed out that resilient earnings performance, together with continued economic recovery, are the reasons why the S&P 500 Index has fallen less than 10% since reaching a record high in January. They believe that beneath the surface, the stock market is already showing signs of being in the "final stage" of an adjustment. They noted that there are better indicators for assessing a pullback in US stocks: the price-to-earnings ratio of the S&P 500 Index has dropped 18% from its high last October, and more than half of the stocks in the Russell 3000 Index have fallen by at least 20%.

Glonghui, April 13 — The S&P 500 Index has turned positive, reversing an earlier decline of up to 0.4%.