According to ChainCatcher, citing Jinshi, strategists at JPMorgan Chase say renewed enthusiasm for artificial intelligence technology will drive U.S. stocks to higher-than-expected levels this year. The bank raised its year-to-date target for the S&P 500 to 7,600, up from 7,200 last month. The S&P 500 closed at 7,109 on Monday, implying a potential upside of about 7%. The strategists' optimistic forecast is based on a more bullish outlook for the technology and artificial intelligence sectors.
JPMorgan Chase raises its S&P 500 target to 7,600, driven by artificial intelligence.
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