Barclays raises S&P 500 year-end target to 6,450 points

Barclays released a report stating that based on corporate earnings exceeding expectations, strong U.S. economic growth, and optimism about artificial intelligence, it has once again raised its year-end target for the S&P 500 index from 6,050 points to 6,450 points, marking the second increase in three months.

The report pointed out that favorable factors such as artificial intelligence and short-term interest rate cuts will support the stock market before the end of the year, but added that such expectations may have already been reflected in the stock market. The bank expects the Federal Reserve to cut interest rates three times before the end of the year and stated that this will help offset labor market risks