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Nov. 9, 2021, 8:33 a.m. EST

This wild stock market rumpus could send the S&P 500 well over 5,000. But set your alarms for mid-2022.

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By Barbara Kollmeyer

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Panera Bread is headed back to the stock market, helped by a SPAC /zigman2/quotes/224939774/composite HUGS.UT 0.00% from Shake Shack founder Danny Meyer.

Palantir /zigman2/quotes/221054928/composite PLTR +5.03% and Cardinal Health /zigman2/quotes/206646342/composite CAH +0.48% are up after, Blue Apron /zigman2/quotes/203710464/composite APRN +1.31% is tumbling on an earnings miss , with SeaWorld /zigman2/quotes/210357674/composite SEAS +5.99% also down on a disappointing results . Results from Coinbase /zigman2/quotes/225893452/composite COIN +4.02% , Krispy Kreme /zigman2/quotes/227704127/composite DNUT +1.04% and Toast /zigman2/quotes/229432452/composite TOST +4.62% — its first since the initial public offering — are due after the close.

PayPal /zigman2/quotes/208054269/composite PYPL +0.37% announced an Amazon.com /zigman2/quotes/210331248/composite AMZN +4.03% partnership, but shares are down on a disappointing holiday-quarter outlook . In the gaming space, Roblox /zigman2/quotes/223883423/composite RBLX +5.74% is soaring and Zynga is also up after bullish forecasts.

Robinhood /zigman2/quotes/228268942/composite HOOD +0.54% shares are down, after the company said customer data for its mobile trading app was breached last week .

Lingerie and swimwear company Naked Brand is surging on news of a merger with electric-vehicle company Cenntro Automotive.

Retailer Macy’s /zigman2/quotes/201854387/composite M +19.31% is now offering workers $15-an-hour wages and debt-free schooling.

The latest survey of small-business owners shows them turning even more pessimistic due to labor and supply shortages. Producer prices rose 0.6% for October, in line with forecasts.

The markets

Futures /zigman2/quotes/210407078/delayed YM00 +1.46% /zigman2/quotes/209948968/delayed ES00 +1.86% /zigman2/quotes/210219788/delayed NQ00 +2.64% are mixed, with the longest winning streak for the S&P 500 and Nasdaq on the line. The 10-year Treasury yield /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +0.26% is dropping after the biggest jump in three weeks . Elsewhere, bitcoin /zigman2/quotes/31322028/realtime BTCUSD +0.27% is hovering just under a record $68,000, in a continuing crypto rally some see fueled by low supplies.

Sign up for MarketWatch’s new weekly crypto newsletter here.

Goldman Sachs is also liking the chances of a stock ‘melt-up.’ In a note to clients, a team led by portfolio strategist Christian Mueller-Glissmann sees positive macro surprises and anchored real yields driving up that possibility.

“With the current pricing and the S&P 500 already at our 4700 YE target, we like getting equity exposure via short-dated calls to hedge the risk of a continued equity melt-up,” he said. Remember, a call option gives the holder the right to buy an asset.

Here is one of his charts showing that probability viewed by options markets as less likely:

Random reads

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“Squid Game” actors strut Hollywood’s red carpet, adorably.

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/zigman2/quotes/224939774/composite
US : US Composite
$ 10.10
0.00 0.00%
Volume: 100.00
May 26, 2022 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$353.63 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/221054928/composite
US : U.S.: NYSE
$ 8.36
+0.40 +5.03%
Volume: 39.70M
May 26, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$16.30 billion
Rev. per Employee
$564,045
loading...
/zigman2/quotes/206646342/composite
US : U.S.: NYSE
$ 58.02
+0.28 +0.48%
Volume: 2.21M
May 26, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
3.35%
Market Cap
$15.73 billion
Rev. per Employee
$3.74M
loading...
/zigman2/quotes/203710464/composite
US : U.S.: NYSE
$ 3.10
+0.04 +1.31%
Volume: 1.76M
May 26, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$105.17 million
Rev. per Employee
$230,595
loading...
/zigman2/quotes/210357674/composite
US : U.S.: NYSE
$ 54.64
+3.09 +5.99%
Volume: 1.17M
May 26, 2022 4:00p
P/E Ratio
14.90
Dividend Yield
N/A
Market Cap
$3.75 billion
Rev. per Employee
$572,322
loading...
/zigman2/quotes/225893452/composite
US : U.S.: Nasdaq
$ 69.87
+2.70 +4.02%
Volume: 11.97M
May 26, 2022 4:00p
P/E Ratio
6.14
Dividend Yield
N/A
Market Cap
$14.91 billion
Rev. per Employee
$1.93M
loading...
/zigman2/quotes/227704127/composite
US : U.S.: Nasdaq
$ 14.60
+0.15 +1.04%
Volume: 480,300
May 26, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.96%
Market Cap
$2.42 billion
Rev. per Employee
$66,750
loading...
/zigman2/quotes/229432452/composite
US : U.S.: NYSE
$ 15.64
+0.69 +4.62%
Volume: 3.97M
May 26, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.01 billion
Rev. per Employee
$617,312
loading...
/zigman2/quotes/208054269/composite
US : U.S.: Nasdaq
$ 80.42
+0.30 +0.37%
Volume: 21.67M
May 26, 2022 4:00p
P/E Ratio
26.58
Dividend Yield
N/A
Market Cap
$92.78 billion
Rev. per Employee
$838,349
loading...
/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 2,221.55
+86.05 +4.03%
Volume: 4.64M
May 26, 2022 4:00p
P/E Ratio
53.57
Dividend Yield
N/A
Market Cap
$1086.37 billion
Rev. per Employee
$297,107
loading...
/zigman2/quotes/223883423/composite
US : U.S.: NYSE
$ 30.59
+1.66 +5.74%
Volume: 19.59M
May 26, 2022 4:01p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$17.16 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/228268942/composite
US : U.S.: Nasdaq
$ 9.28
+0.05 +0.54%
Volume: 10.67M
May 26, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.05 billion
Rev. per Employee
$425,102
loading...
/zigman2/quotes/201854387/composite
US : U.S.: NYSE
$ 22.92
+3.71 +19.31%
Volume: 48.25M
May 26, 2022 4:00p
P/E Ratio
4.98
Dividend Yield
2.75%
Market Cap
$5.47 billion
Rev. per Employee
$284,637
loading...
/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 32,543.00
+467.00 +1.46%
Volume: 151,271
May 26, 2022 3:59p
loading...
/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,050.75
+74.00 +1.86%
Volume: 1.43M
May 26, 2022 3:59p
loading...
/zigman2/quotes/210219788/delayed
US : U.S.: CME
$ 12,258.00
+315.75 +2.64%
Volume: 604,621
May 26, 2022 3:59p
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
2.75
+0.0071 +0.26%
Volume: 0.00
May 26, 2022 5:22p
loading...
/zigman2/quotes/31322028/realtime
US : CoinDesk
29,525.85
+78.49 +0.27%
Volume: 0.00
May 26, 2022 5:53p
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