Bank of America is urging investors to take profits, warning that roughly 70% of its bear-market indicators have fired, a level the firm says has historically aligned with major market peaks. According to analysts, valuations are stretched, speculative activity is picking up, and market gains are narrowing, three conditions that have the bank holding a cautious year-end S&P 500 target of 7,100, well below where most of Wall Street is currently camped out.
Bending Spoons, the company that owns AOL, has filed for an IPO on the Nasdaq, targeting a valuation of $20 billion to $22 billion, according to Bloomberg, a roughly 40% step up from its last private valuation of $14.5 billion in 2025. The Italian tech company, which in addition to AOL owns Vimeo, Evernote, and WeTransfer, has built its business around a playbook to acquire struggling subscription apps, cut headcount, and hand operations to engineers. In response, monthly active users have ballooned to 500 million from 111 million in December 2023, paying customers have tripled to 9 million, and Q1 2026 revenue hit $601 million, more than double the $259 million posted a year earlier. Q1 net income came in at $27.5 million after a $112 million loss in the same period last year. Goldman Sachs, JPMorgan and Allen & Co. are handling the underwriting.
Citi is planting its flag firmly in the bull camp, lifting its year-end S&P 500 target to 8,100 from 7,700, a call that implies more than 9.Citi is planting its flag firmly in the bull camp, lifting its year-end S&P 500 target to 8,100 from 7,700, a call that implies more than 9.5% upside from Friday’s close. Strategist Scott Chronert is projecting S&P 500 earnings of $350 per share in 2026, climbing to $400 in 2027, with the AI buildout serving as the primary engine behind the upgrade. “AI tailwinds are fueling an episodic fundamental surge across related sectors,” Chronert wrote. “We have high confidence in continued earnings beats through year-end.” The raised target puts Citi in line with the growing chorus of Wall Street firms betting that artificial intelligence spending will keep corporate profit growth running well ahead of broader economic headwinds.
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The Nasdaq Composite is mounting a comeback Monday after suffering its worst single-session decline since April 2025, with Nasdaq 100 futures jumping 1.6% in early trade as chip stocks shake off Friday’s brutal selloff and investors move back into the names they were dumping just 72 hours ago. S&P 500 futures are up 0.8% and Dow futures are adding 135 points, or 0.3%, as the broader market finds its footing heading into a new week.
The chip sector is leading the charge. Micron Technology (NASDAQ:MU) is bouncing more than 5% in premarket trading after cratering 13% on Friday, while Nvidia (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO) are also reclaiming ground. The iShares Semiconductor ETF is tracking 4% higher after its worst single day in more than six years on Friday, when the Nasdaq shed 4.2% as investors pulled back on concerns that valuations had stretched beyond what the uncertain economic backdrop could support. Morgan Stanley’s Mike Wilson characterized the Friday selloff as “ultimately healthy,” maintaining his 8,000 price target on the S&P 500, which would imply more than 8% upside from last week’s close.
Oil is back in the conversation, with Brent futures spiking as high as $98 a barrel after Iran and Israel exchanged strikes overnight, though prices are holding just below the $100 threshold that has served as a key psychological level throughout the conflict. President Trump is working to keep the ceasefire framework intact, but the overnight escalation is a reminder that geopolitical risk remains an active variable for a market that is still finding its footing after last week’s volatility.
Here’s a look at where things stand as of pre-morning trading:
Dow Jones Industrial Average: 50,990 Up 0.11%
Nasdaq Composite: 29,575 Up 1.89%
S&P 500: 7,463 Up 0.85%
Amazon (NASDAQ:AMZN | AMZN Price Prediction) has inked a multibillion-dollar supply agreement with Corning (NYSE:GLW), tapping the glass and fiber specialist to deliver the optical fiber, cable, and connectivity solutions running through Amazon’s growing U.S. data center footprint. Of the partnership, AWS CEO Matt Garman stated, “This multibillion-dollar agreement with Corning continues that commitment, channeling investment into American manufacturing and creating 1,000 new jobs at their facilities near our data centers.”
Alphabet’s Google (Nasdaq: GOOGL) and Nvidia (Nasdaq: NVDA) are quietly exploring Intel (NASDAQ:INTC) as a backup chip manufacturer for their most advanced processors, according to The Information, as overwhelming demand continues to strain Taiwan Semiconductor’s production capacity. The development hands Intel a potential opportunity to reclaim relevance in cutting-edge chip fabrication at a moment when the AI buildout is pushing the entire supply chain to its limits.
Cantor Fitzgerald more than doubled its price target on Micron Technology (NASDAQ:MU) Monday, lifting the figure to $1,500 from $700 while keeping its “overweight” rating, a revision that reflects the firm’s conviction in the memory chipmaker’s trajectory as AI-driven demand continues to rewrite the supply and pricing dynamics across the sector.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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