Fred Imbert

Hedge funds are not waiting around for Nvidia's results Wednesday night.

Consumer sentiment hits fresh record low in May as Iran war fuels inflation worries

The S&P 500 climbed 0.9% last week to notch its longest weekly winning streak since late 2023.

Ed Yardeni argues there’s a new driver for stocks.

Marvell Technology momentum from the past 12 months will only grow from here, several analysts on Wall Street indicated after the chipmaker posted its latest quarterly report. The semiconductor company reported fiscal 2027 first-quarter earnings and revenue that beat consensus estimates. Marvell also issued better-than-expected data center revenue guidance for fiscal Q2 and a profit forecast above expectations. And even though the stock was down 3% in the premarket, several analysts on Wall Street reiterated their buy-equivalent ratings raised their price targets on Marvell, expecting it to build on its sharp gains from the past year: Citi: price target hiked to $225 from $215 — 15% upside from Wednesday's close Deutsche Bank: price target to $240 from $120 — 20.8% upside UBS: $230 from $195 — 15.8% upside Bank of America: $240 from $200 Barclays: $275 from $150 — 38.4% upside “MRVL delivered another solid beat/raise and walked numbers up yet again. Even so, there still seems to be gas left in the tank,” UBS analyst Timothy Arcuri wrote to clients. “We continue to view MRVL's networking and optical portfolio as uniquely differentiated and see a path for further upside as demand builds.” The stock has been on a tear of late. Over the past 12 months, it's up 207.6%. It has also soared 133.8% in 2026, as data center demand for artificial intelligence shows no signs of slowing. MRVL 1Y mountain MRVL 1-yr Not everyone on the Street was as upbeat following the report, however. Analysts at Morgan Stanley and Goldman Sachs kept their respective equal weight and neutral ratings on the stock, calling for slight declines. “Expectations are also moving materially higher. These numbers and long-term commentary were clearly positive, [but] we likely need to see continued estimate revisions, additional evidence of sustained networking share/content gains, or increasing confidence around large custom ramps to become more constructive from current levels,” wrote Morgan Stanley analyst Joseph Moore. Goldman's James Schneider said he's neutral on the stock “given lower visibility into the expansion of Marvell's custom silicon customer base relative to peers, but could be more constructive if we gain incremental confidence in the company's custom compute revenue ramp in CY27 and beyond.

The bank upgraded the cloud computing name to buy from hold.

The stock market has had to absorb too many headlines about a potential U.S.-Iran deal to end the war. The latest came Thursday after the U.S. and Iran reached a 60-day memorandum of understanding to extend a ceasefire between the two countries. That agreement was still pending President Donald Trump's approval. The major stock market averages initially popped but quickly pared those gains. In the past, similar headlines would have sent stocks soaring for several days. This time, however, investors are facing "headline fatigue and an unwillingness to participate in trades around geopolitical signals," according to JPMorgan's trading desk. "While we can see rapid short covering in response to 'optimistic Iran headlines,' it would require a more definitive announcement or signed deal from both governments to prompt a full risk-on rally in stocks." .SPX mountain 2026-05-01 S & P 500 in May Stocks have also risen sharply this month, perhaps making it more difficult for investors to add exposure at what are already elevated levels. Through Thursday's close, the S & P 500 is up nearly 5% in May, hitting all-time highs along the way. The Dow Jones Industrial Average and Nasdaq Composite have gained 2% and 8%, respectively, also reaching record levels. The rally has also broadened beyond Big Tech, with the equal weight S & P 500 climbing 2.4% to all-time highs. The sharp moves higher in stocks, coupled with U.S.-Iran headline fatigue, beg the question: How much can stocks rise once a deal to end the war is announced? For now, JPMorgan traders see "see rising risks of 'defensive hostilities' and think it may be prudent to reduce net exposure or start adding hedges."