US stocks trade mixed ahead of Independence Day as investors hope to extend gains into 2nd half of 2023
was up almost 39%. Investors are hoping to extend those gains into the second half of the year, looking to avoid too much turbulence in the face of recession forecasts and the prospect of more tightening by the Federal Reserve.
For the gains to continue, The Fed will have to see more progress on the inflation front, and the hype around artificial intelligence will need to materialize into something significant, according to Fundstrat's Tom Lee, who raised his year-end S&P 500 price target to 4,825 on Monday.
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