Market analyst Jeff Krumpelman forecasts S&P 500 base case target of 7,700
Market expert Jeff Krumpelman has presented a base case target of 7,700 for the S&P 500. The S&P 500 recently closed above 7,000 for the first time, erasing losses attributed to the Iran conflict. Great Hill Capital chairman Tom Hayes discussed the index's rise above 7,100. Chief market strategist Jay Woods examined the drivers behind the S&P 500 reaching a new record. CappThesis founder Frank Cappelleri analyzed the rally to a fresh record. The Strait of Hormuz was opened by Iran, causing oil prices to drop to $90 and boosting stocks. NYSE's Eric Criscuolo commented on market reactions to the strait being 'completely open'. Path Trading Partners’ Bob Iaccino discussed ICE Brent crude oil trading below $100.
Key facts
- Jeff Krumpelman presented a 7,700 base case target for the S&P 500
- S&P 500 closed above 7,000 for the first time
- Iran opened the Strait of Hormuz
- Oil prices dropped to $90 following the strait opening
- Stocks increased after the strait opening
- Tom Hayes discussed S&P 500 rise above 7,100
- Jay Woods examined drivers behind S&P 500 record
- Frank Cappelleri analyzed S&P 500 rally to fresh record
Entities
Institutions
- Great Hill Capital
- Path Trading Partners
- NYSE
Locations
- Strait of Hormuz
- Iran
Sources
- Quartz —