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Alex Proimos
This marks the second rise in under a month, with the bank's analysts linking it to better-than-anticipated performance from US firms in the second quarter, along with the “limited” effect of tariffs enacted by the US.
HSBC's updated prediction indicates a 1.3% rise in the S&P 500 relative to Tuesday's market closing level of 6,415.54 points. On Wednesday, the index has risen by 0.3% and is at 6,435.38 points.
HSBC noted in a report referenced by Reuters that earnings momentum is robust, especially in the technology and financial sectors, and company statements indicate that the effect of tariffs on their performance is limited.
Analysts from JPMorgan Chase & Co. and Morgan Stanley also predict that the S&P 500 will reach 6,500 by year-end.
LSEG states that almost 80% of the 489 firms in the index that reported last quarter surpassed market expectations.
HSBC's most positive outlook for the S&P 500 predicts an increase to 7,000, whereas its most negative outlook anticipates a decline to 5,700.
The bank's analysts anticipate that the Federal Reserve will lower its key interest rate in September from the existing range of 4.25-4.5 percent annually.
source: reuters.com
HSBC's updated prediction indicates a 1.3% rise in the S&P 500 relative to Tuesday's market closing level of 6,415.54 points. On Wednesday, the index has risen by 0.3% and is at 6,435.38 points.
HSBC noted in a report referenced by Reuters that earnings momentum is robust, especially in the technology and financial sectors, and company statements indicate that the effect of tariffs on their performance is limited.
Analysts from JPMorgan Chase & Co. and Morgan Stanley also predict that the S&P 500 will reach 6,500 by year-end.
LSEG states that almost 80% of the 489 firms in the index that reported last quarter surpassed market expectations.
HSBC's most positive outlook for the S&P 500 predicts an increase to 7,000, whereas its most negative outlook anticipates a decline to 5,700.
The bank's analysts anticipate that the Federal Reserve will lower its key interest rate in September from the existing range of 4.25-4.5 percent annually.
source: reuters.com
