HSBC raised its year-end forecast for the S&P 500 index to 6,500 from 6,400 on Wednesday, marking its second upgrade in less than a month, on the back of stronger-than-expected second-quarter corporate earnings and a ’modest’ impact from tariffs.

HSBC’s new target represents a 1.3 per cent upside to the benchmark index’s last close of 6,415.54.

“Earnings momentum is strong, especially among technology and financials, while company commentary suggests a modest tariff impact,” Nicole Inui, head of equity strategy for the Americas at HSBC, wrote in a note.

Global brokerages including J.P.Morgan and Morgan Stanley have also forecast the index target to hit 6,500 by year-end.

Of the 489 companies in the S&P 500 that have reported second-quarter results through Friday, 79.6 per cent beat ana

See Full Page