Wall Street's year-end expectations for the S&P 500 (^GSPC) have bounced back from post-Liberation Day lows but haven't returned to where they sat pre-tariff announcements.
Yahoo Finance Markets Reporter Josh Schafer examines how year-end targets have changed throughout the year.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
00:00 Speaker A
It's time now for our chart of the day with the S&P 500 within one percentage point of an all-time high. Let's send it on over to Josh Shafer for a look at what Wall Street forecasts right now, Josh.
00:09 Josh
Yeah, Brad, so if you go back to early April, what we're looking at here is how targets, S&P 500 targets for year end of 2025 fell and then rose. So the big dip you see, of course, that was your tariff reaction, right? That was all sort of in the middle of April as recession fears rose, that estimated effective tariff rate hit its highest level in over a century. Strategists were worried in the same way investors were, right? But as we've had this rally, stocks have started to come back. You see more than eight Wall Street strategists have now boosted their S&P 500 target, the latest being Bmo Bmo's Brian Belski. He boosted to 6700 from 6100. And really what Belski was pointing out is, you know, back when he first lowered his target, he sort of argued a 30% rally back to 6700 didn't quite make sense. That was of course right before April 9th when we saw that massive rebound in the S&P 500. Now that things look more promising for the economy, for earnings, Belski is feeling more sanguin in general about the equity market.
00:58 Speaker A
Josh, thank you.
