JPMorgan raises year-end S&P 500 target, but sees little upside left

Strong earnings and a resilient economy amid extreme policy uncertainty this year have uplifted JPMorgan's view on U.S. equities. Head of global markets strategy Dubravko Lakos-Bujas raised his year-end S & P 500 price target to 6,000 from 5,200. The strategist cited an "encouraging fundamental backdrop" that alleviated investors' concerns about tariffs' impact on corporate growth. He added that results such as Nvidia's confirmed that the artificial intelligence theme and capital spending boom remain strong. "Absent major policy surprises, the path of least resistance is to new highs supported by Tech / AI led strong fundamentals, a steady bid from systematic strategies on improving volatility and momentum signals, and flows from active investors on dips," Lakos-Bujas wrote in a note to cl