HSBC Lowers S&P 500 Year-End Target Amid Economic Concerns

HSBC has lowered its year-end target for the S&P 500 index due to slower U.S. economic growth and tariff-related pressures. The brokerage, aligning with BofA Global Research, projects a new target of 5600. Global brokerages are revising forecasts, anticipating economic impacts from tariff policies and corporate earnings pressure.

HSBC has adjusted its projections for the S&P 500 index, reducing its year-end target to 5600, citing slower economic growth and tariff-related challenges affecting corporate earnings.

Aligning with BofA Global Research, HSBC's revised forecast reflects a cautious market outlook amid ongoing economic uncertainty exacerbated by evolving U.S. tariff policies.

The London-based brokerage anticipates defensive strategies, favoring large-cap and value stocks, amid predictions that the Federal Reserve may cut rates further this year.

(With inputs from agencies.)