HSBC Raises S&P 500 Year-End Target to 6,500 Points

HSBC released a report raising the year-end target for the S&P 500 Index from 6,400 points to 6,500 points, marking the second adjustment in less than a month. HSBC stated that corporate earnings in the second quarter exceeded expectations, with particularly strong performances in technology and financial stocks. Additionally, it is anticipated that the Federal Reserve will begin cutting interest rates in September, with a cumulative reduction of 0.75% by 2026. HSBC also raised its forecast for this year's S&P 500 earnings per share growth from 9% to 12%, while maintaining its most bullish target at 7,000 points and most bearish target at 5,700 points.