Reported about 9 hours ago
Citi strategists have raised their year-end target for the S&P 500 Index to 6,600 points, citing resilient earnings and the belief that tax cuts may mitigate the adverse effects of tariffs on US companies. With over 81% of S&P 500 firms surpassing earnings estimates and improved profit expectations for 2025 and 2026, the team anticipates an 8% rise in the index by mid-2026. Despite a record proportion of fund managers deeming US stocks overvalued, investors are hopeful that tax breaks and interest rate cuts will bolster equity markets.
Source: YAHOO