Check Point Software Technologi (CHKP) Stock Forecasts

Summary

With one more month and quarter in the books, there is seemingly nothing to complain about in the performance of the major mega-cap stock indexes. But if you look beneath the surface, it’s a more complicated story. So far, IT has knocked the major indices down and soared. Can this last? The majority of earnings-based market research suggests that it is possible. The S&P 500 rose 3.5% in June, 3.9% in the second quarter and 14.5% year to date. The Nasdaq was up 6% monthly, up 8.3% in the second quarter and up 18% year to date. The Nasdaq 100 (QQQ) rose 6.5% in June, 8% in the second quarter and 17% year to date. The S&P MidCap 400 (MDY) has had a mixed time, down 1.7% in June and 3.5% in the second quarter, but up 6% so far in 2024. Meanwhile, small caps simply fail to gain traction consistently, with the Russell 2000 (IWM) down 1% in June, 3.3% in the second quarter, and a relatively disappointing 1.6% up so far in 2024. In June we saw a very concentrated market, with Information Technology (XLK) growing 7.8%, Discretionary (XLY) adding almost 4%, Communication Services ( XLC) rose 3%, real estate (XLRE) rose 2% and healthcare rose 1.8%. The other six sectors all fell during the month, with Utilities (XLU) taking a 5.5% hit. IT leadership was provided by