Overview

• Goldman Sachs raised its S&P 500 targets to 6,400 for three months, 6,600 for six months and 6,900 for 12 months in its second upward revision over two months.
• Bank of America boosted its year-end S&P 500 forecast to 6,300, citing reduced policy uncertainty and robust corporate earnings.
• Goldman analysts lifted the index’s forward P/E multiple to 22 from 20.4 while retaining a 7% earnings-per-share growth projection for 2025 and 2026.
• Investors are increasingly pricing in earlier Federal Reserve rate cuts after softer inflation readings and resilient labor-market data.
• Large-cap firms’ inventory buffers are helping to absorb tariff hikes, keeping near-term trade-war effects manageable.