S&P 500 could gain 11% by year-end on tech strength — Wells Fargo

Christopher Harvey of Wells Fargo predicts the S&P 500 could rise 11% by year-end, driven by the resilience of major technology companies. His 7,007-point target suggests further growth from Monday's closing level of 6,304.2. Technology giants, which have fueled the index's 27% rebound since April, are expected to sustain the rally despite ongoing shifts in US trade policy.

Harvey highlights artificial intelligence as a key growth driver for the S&P 500, with just Nvidia, Microsoft, Apple, Amazon, and Meta contributing over 25% of the index's gains.

The strategist notes that tech companies' strength will become even more apparent in coming weeks as they release quarterly earnings reports.

Meanwhile, the S&P 500 hit another record high on Monday, continuing its upward trajectory despite broader economic uncertainties.