UBS Global Wealth Management has increased its year-end forecast for the S&P 500 index to 6,600, driven by robust corporate earnings, easing trade tensions, and anticipated interest rate cuts, News.Az reports, citingReuters.

Barclays lifted its year-end forecast for the S&P 500 index to 6,050 from 5,900 on Wednesday, citing reduced trade uncertainty and expectations of normalized earnings growth by 2026.

The wealth of the world's billionaires surged by approximately 17% over the past year, driven by significant gains among the ultra-wealthy in the United States, which offset a decline in China, according to UBS's 2024 Billionaire Ambitions Report.