JPMorgan Chief Strategist Hikes S&P Price Target As AI Momentum Rebounds

Following JPMorgan's traders' well-timed (and highly profitable) shift to a 'Tactically Bullish' stance, the big bank's strategists are out this morning with a bigger picture bullish note raising its year-end target for the S&P 500 to 7,600, after a downgrade to 7,200 made just last month.

In summary, the team, led by Dubravko Lakos-Bujas, says a renewed surge in enthusiasm for artificial intelligence will help drive US stocks to higher-than-expected levels this year.