UBS has raised its S&P 500 year-end target to 6,600 points for the second time in two months, betting on profit resilience and interest rate cut expectations
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UBS Global Wealth Management has again raised its year-end target for the S&P 500 index to 6,600 points, primarily based on strong corporate earnings, easing trade tensions, and expectations of interest rate cuts. This adjustment implies a 3.6% upside from the latest closing price of 6,370.17 points. Despite the market's optimism, UBS maintains a "neutral" rating on the U.S. stock market, believing there is a lack of catalysts in the short term and that valuations are high. Investors are focused on Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole annual meeting for clues on the direction of interest rates
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