HSBC raises year-end target for S&P 500 Index to 5,900

HSBC head of equity strategy for the Americas Nicole Inui said the firm’s “bull case goldilocks scenario” for the S&P 500 is playing out with above-trend GDP growth, easing inflation and lower interest rates. HSBC increased its year-end target up to 5,900 on more visibility on earnings, growth and rates. Fading election uncertainty and/or geopolitical risks could bring additional upside into year-end, the strategist tells investors in a research note.