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Citigroup strategists note that major US tech giants are attracting growing investor interest, as market optimism about America's economic outlook outweighs global trade uncertainty.
The S&P 500 is now about 2% below its February record highs. Several Wall Street strategists, along with Citigroup analysts, have raised their year-end targets for the index in recent days. The organization believes the worst impacts of the US administration's trade policies are likely over.
American stocks have rallied after President Donald Trump suspended some tariffs, with securities surging amid strong corporate earnings.