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Dow Futures Over 23,000: Dollar, Global Stocks Jump As China Congress Begins

Dow Futures Over 23,000: Dollar, Global Stocks Jump As China Congress Begins

World stocks stayed near peaks and currencies moved in tight ranges on Wednesday as China’s 19th Communist Party Congress opened while focus in Europe turned to speeches from top euro zone central bankers before next week’s key policy meeting, as well as Catalonia's ultimatum due on Thursday. S&P futures are solidly in the green as usual, with Dow futures jumping above 23,000, driven higher by IBM as investors looked for new reasons to extend gains after hitting new all-time highs Tuesday.

Schrodinger's Market: Goldman Now Has Two Year-End S&P Price Targets

Schrodinger's Market: Goldman Now Has Two Year-End S&P Price Targets

For months, we were wondering how much longer Goldman would ignore the relentless market meltup without revising its year-end S&P500 price target, which at 2,400 was not only among the lowest on Wall Street, but also some 150 points away from twhere the S&P currently is. Furthermore, as of this weekend, Goldman's 2018 and 2019 targets for the US equity index, were 2,500 and 2,600, implying there was only 50 points of upside for the next 26 months.

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