Goldman Sachs strategists raised their S&P 500 target to 8,000, driven by AI and earnings.

Mars Finance reported on May 27th that Goldman Sachs strategists predict a 17% return for the S&P 500 this year, joining Morgan Stanley and Deutsche Bank in their forecasts. The Goldman Sachs team, led by Ben Snider, stated that earnings growth driven by the artificial intelligence (AI) boom will further boost the stock market, thus raising their year-end target for the US benchmark index to 8,000 points, abandoning their previous forecast of 7,600 points. "Sustained earnings growth should drive the stock market higher," the strategists wrote in the report. "The upward revision of return forecasts reflects an upward revision of earnings expectations for the S&P 500 following an exceptionally strong first-quarter earnings season." (Wide Angle Observation)