"Later this month, Carvana ( NYSE: CVNA) will be added to the S&P 500 on December 22. As a result, analysts at Bank of America reiterated a buy rating with a price target of $485 a share. After all, inclusion into the S&P 500 typically forces index funds and ETFs to buy shares of newly added stocks. Other stocks being added to the S&P 500 include Comfort Systems (FIX), Mohawk Industries (MHK), Pinterest (PINS), Dycom Industries (DY), and Marriott Vacations (VAC)."
"Over the last few weeks, many of us have stuffed ourselves full of turkey. Nowadays, we're at holiday and family parties packing on even more weight. Then, when all is said and done, we promise next year will be different. We promise to diet and exercise. In fact, around this time of year, about 90% of us, according to Johns Hopkins Medicine, make a resolution to lose weight, diet, and exercise more."
S&P 500 futures rose about 11 points as SPY gained roughly $1.50, the Dow added 23 points and the Nasdaq climbed 81 points. Markets priced an 87% chance of a Fed rate cut, supported by a lower-than-expected US PCE inflation reading of 2.8% for September and reports that job cuts have surpassed one million for the year. Carvana will join the S&P 500 on December 22, prompting a Bank of America buy rating and expected index-driven demand; other additions include Comfort Systems, Mohawk, Pinterest, Dycom and Marriott Vacations. Consumer fitness names such as Planet Fitness rose amid New Year resolution seasonality.
Read at 24/7 Wall St.
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