UBS Global Wealth Management boosts S&P 500 forecast on strong consumer spending
UBS Global Wealth Management has raised its 2026 year-end target for the S&P 500 to 7,900, up from its previous forecast of 7,500, citing resilient consumer spending and strong demand for data center infrastructure driven by artificial intelligence, News.Az reports, citing Reuters.
In a note dated May 21, the brokerage said US equities have reached new highs despite continued uncertainty over Middle East energy flows.
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It pointed to expectations of an end to the conflict, robust first-quarter corporate earnings, and sustained momentum in AI-related investments as key supporting factors.
UBS said the combination of steady household consumption and rapid growth in technology infrastructure demand continues to underpin its more bullish outlook for US stocks, even amid geopolitical risks and macroeconomic uncertainty.
By Nijat Babayev
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