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International Business Times
International Business Times
Business

Strong Corporate Earnings And AI Spending Lead JPMorgan To Lift Its S&P 500 Forecast For The Second Time In Two Months

JPMorgan Michael Hartnett Corporate Earnings Bank of America
JPMorgan strategists raised their S&P 500 forecast for the second time in two months. (Credit: AFP)

JPMorgan strategists raised their S&P 500 forecast for the second time in two months, claiming the index will rise to 8,000 buoyed by strong corporate earnings and continued AI spending.

Bloomberg detailed that the bank's new target is slightly above average of the 20 strategists polled by the outlet. It noted that capital expenditure from AI hyperscalers including Alphabet, Amazon and Microsoft, is being monetized through customer demand.

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