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HSBC raises S&P 500 year-end target to 6400 on AI boom, easing policy uncertainty

Kitco Media
By Reuters
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Updated:
Reuters
HSBC raises S&P 500 year-end target to 6400 on AI boom, easing policy uncertainty teaser image

Aug 5 (Reuters) - HSBC on Tuesday raised its year-end S&P 500 (.SPX), opens new tab index target by more than 800 points to 6400, citing euphoria around artificial intelligence and easing U.S. policy uncertainty.

"The AI trade is powering the tech/AI cohort higher (roughly half of the S&P 500) while reduced policy uncertainty (namely tariffs) is fueling the 'rest' of the market," HSBC strategists wrote in a note.

Reporting by Kanchana Chakravarty in Bengaluru; Editing by Anil D'Silva

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