<div id="readability-page-1"><div><p><span>HSBC Global Investment Research on Monday lifted its year-end 2026 target for the S&amp;P 500 to 7,650 from a prior view, saying stronger-than-expected earnings have improved the backdrop for the benchmark index.</span></p><p><span>HSBC also raised its 2026 S&amp;P 500 earnings estimate by 8%, now calling for 20% growth and about $325 in per-share profit. HSBC said technology, chipmakers and the so-called Mag7 group remain key drivers of the market's gains.</span></p><p><span>In its note, HSBC said the index's recent run higher has been led by a relatively small group of stocks. HSBC added that many shares still trade below their 52-week highs, which could leave room for more upside if market participation broadens.</span></p><p><span>HSBC outlined several paths that could push the S&amp;P 500 beyond 8,000, including a renewed re-rating in tech, a rebound in lagging sectors, efficiency gains from artificial intelligence and a softer rate backdrop. HSBC also flagged risks from higher oil prices, weaker tech earnings tied to heavy capital spending and a more hawkish Federal Reserve stance if inflation picks up again.</span></p></div></div>

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<p>HSBC Global Investment Research has raised its year-end 2026 target for the S&P 500 to 7,650, citing stronger-than-expected earnings. The firm also increased its earnings estimate for the index by 8%, projecting 20% growth and approximately $325 in per-share profit. Key drivers include technology and chipmakers, while risks such as higher oil prices and a hawkish Federal Reserve stance are noted. HSBC suggests potential for the index to exceed 8,000 if market participation broadens and certain sectors rebound.</p>

- HSBC Global Investment Research raised its year-end 2026 target for the S&P 500 to 7,650, citing stronger-than-expected earnings.  
- The report indicates 20% growth in S&P 500 earnings with key contributions from technology and chipmakers, despite some stocks trading below recent highs.  
- Potential paths for exceeding 8,000 include tech re-ratings and a softer rate environment, while risks arise from higher oil prices and a hawkish Federal Reserve stance.

HSBC resets S&P 500 price target for rest of 2026