Goldman Sachs raises Nuvalent stock price target to $135 on positive cancer drug data

The stock market is retreating as concerns rise regarding the Federal Reserve's dual mandate, the overvaluation of the S&P 500, and an exaggerated AI hype. Recent data indicates a slowdown in the jobs market, which could further impact investor sentiment and expectations.

Progressive stock has seen gains following Goldman Sachs' reaffirmation of a Buy rating, citing strong growth prospects for the company. This positive sentiment reflects investor confidence in Progressive's market performance and future potential.

Goldman Sachs has raised its price target for American International Group (AIG) stock to $84, reflecting a positive outlook for the company. This adjustment indicates the investment bank's confidence in AIG's potential for growth and performance in the market. The increase in the price target comes amid broader market analyses and expectations regarding economic recovery and employment trends.

Goldman Sachs has provided insights on the delayed U.S. jobs report for September, highlighting key expectations and potential impacts on the market. The report's release is anticipated to shed light on employment trends and economic recovery, which are crucial for investors and policymakers alike.

US equity futures rose ahead of Nvidia's quarterly earnings report. Goldman Sachs President John Waldron described the recent market pullback as 'healthy.' President Trump announced plans to designate Saudi Arabia as a major non-NATO ally following discussions with Crown Prince Mohammed bin Salman at the White House. Robinhood CIO Stephanie Guild commented on the market's overall downturn.

Goldman Sachs' John Waldron has indicated that inflation is expected to remain persistent, with predictions of layoffs in the U.S. occurring in 2026. This outlook reflects ongoing economic challenges as inflationary pressures continue to affect various sectors. Waldron's comments highlight concerns about the labor market and economic stability moving forward.

Nuvalent has announced a public offering of $500 million, pricing its shares at $101 each. This move is part of the company's strategy to raise capital for its growth initiatives and enhance its financial position in the market. The offering reflects Nuvalent's ongoing efforts to attract new investors and expand its operations.

Goldman Sachs has raised its price target for Upwork's stock to $28, reflecting a positive growth outlook for the company. This adjustment indicates the investment bank's confidence in Upwork's potential to expand its market presence and improve financial performance. The revised target comes as Upwork continues to adapt to changing market dynamics and enhance its service offerings.