STOCKS | HSBC Raises S&P 500 Year-End Target Amid Tech Stock Recovery

HSBC Research released a report on May 12, indicating that the S&P 500 index has returned to its historical high as technology stocks recover. According to Jin10, the robust first-quarter earnings season has also provided support. The bank has raised its 2026 earnings per share forecast for the index by 8%, incorporating the latest quarterly results. HSBC now expects a 20% growth in earnings per share in 2026, reaching $325, with technology stocks and the 'Magnificent Seven' of U.S. equities being the main drivers. Based on higher earnings expectations, the bank has increased its year-end target for the S&P 500 index from the previous 7,500 points to 7,650 points.