RBC's Calvasina Likes Her 4,100 Target for S&P 500

Laurie Calvessina from RBC Capital Markets discusses the impact of the debt ceiling on market sentiment, particularly among non-US hedge funds. She provides projections for the S&P 500, suggesting a base case of 4100 by year-end, with potential short-term overshoots. Laurie highlights uncertainties in earnings outlooks, especially in financials, and notes that the tech trade may be losing momentum. The decision to chase market breakouts depends on the investor's time horizon.

What does Laurie believe will happen if the debt ceiling is removed as a risk?

What does Laurie suggest about the uncertainty in earnings, particularly for financials?