Stoltzfus Bullish on S&P 500 Resilience Near 7,108 Despite Geopolitics

Oppenheimer's John Stoltzfus stays bullish on the S&P 500 at 7,108.39 (-0.41%), citing U.S. economic resilience and strong earnings outweighing geopolitical risks, while favoring tech, cyclicals, and commodities like copper 'the new gold'. This builds on J.P. Morgan's April 20 note on global earnings upgrades supporting a 1.20% rally to 7,126.07 amid risks. HSBC's Max Kettner reinforced on April 21 with tech's ~50% market cap weight, healthier valuations than dot-com, and light positioning near 7,111.94 (52-week high 7,147.52), signaling persistent upside potential.