We're lifting our price targets on 2 stocks that have shaken off AI disruption concerns

Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.

We're lifting our price targets on 2 stocks that have shaken off AI disruption concerns

TL;DR

  • Stocks rallied on Thursday, with the S&P 500 on pace for its best session since early August.
  • Treasury yields fell after Federal Reserve Governor Christopher Waller expressed favor for keeping interest rates steady, impacting rate hike expectations.
  • Enterprise software stocks, particularly Microsoft and Salesforce, were major gainers, rallying significantly since late July.
  • Price targets for Microsoft were raised to $550 from $500, and for Salesforce to $290 from $250.
  • Friday is jobs day, with economists expecting the economy to add 65,000 jobs in August and the unemployment rate to increase slightly.
  • Jim Cramer's Charitable Trust follows specific trading alert protocols for subscribers.