RBC's Bullish Outlook: S&P 500 Target Raised Amid Economic Optimism

RBC on Monday adjusted its year-end prognosis for the S&P 500 index to 5,730, up from its previous target of 5,550. This change reflects slight improvements in the U.S. economic landscape and stronger-than-expected corporate earnings performances.

The S&P 500 index recorded its most significant monthly growth since November 2023, buoyed by a relaxing tariff stance from U.S. President Donald Trump, optimistic earnings, and controlled inflation, helping the market rebound from previous lows experienced in April.

This adjustment follows similar moves from Goldman Sachs and UBS Global Wealth Management. Nevertheless, RBC's revised prediction still stands 3% lower than the index's last close at 5,911.69 points, marking the third revision by the brokerage this year.

(With inputs from agencies.)