Welcome to Markets Desk, let's get you caught up on the stories moving the conversation today.
JPMorgan just raised its year-end price target on the S and P five hundred from seven thousand eight hundred to eight thousand, a meaningful upward revision from Wall Street's largest bank that signals growing institutional confidence in equities heading into the back half of the year.
Shifting to energy, oil prices are climbing as doubts mount over whether the United States and Iran are anywhere close to a deal that would guarantee free passage through the Strait of Hormuz. That chokepoint handles roughly a fifth of global oil supply, and any prolonged uncertainty there tends to find its way quickly into crude pricing.
And over at Berkshire Hathaway, Greg Abel, Warren Buffett's chosen successor, just deployed four point five billion dollars into Berkshire's own stock, ending a fourteen-quarter streak of net selling. It's a pointed signal from the man now holding the keys to Omaha that he sees real value in the company he's inheriting.
That's the tape. Markets Desk, signing off the floor.
