HSBC adjusts US S&P 500 target

HSBC has increased its forecast for the closing level of the U.S. S&P 500 Index by the end of the year to 8,100 points, up from its previous estimate of 7,650 points. This upward revision is supported by strong corporate earnings results and the momentum of AI-related spending. The bank expects the index to gain 4.9%, with earnings per share growing by more than 25% in the second half of the year, driven by operational efficiency among major companies. Second-quarter earnings reports showed a remarkable outperformance, with 86% of the 492 companies reporting results above expectations, compared to the long-term average of 67.5%.

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