Canadian RBC Capital Markets increased its forecast for the S&P 500 index for the end of 2025 from 5,730 to 6,250 points. As a reason for this, the bank's specialists pointed to an improvement in investor sentiment and growing attention to the prospects of the economy in 2026. According to their estimates, the market begins to take into account possible growth of the US economy.
The S&P 500 index fell slightly at the end of the week, retreating from the historical maximum. The decline came after reports of US President Donald Trump's imposition of new tariffs on goods from Brazil, as well as uncertainty surrounding possible trade duties for the European Union. Despite this, the index remains in the black for 2025, showing a gain of around 6.4%.
RBC reiterated its earnings estimates for the companies in the index at $258 per share. The figure is slightly below the average forecast of experts. The bank's analysts noted that it is too early to draw conclusions about the impact of tariffs on business, based on the first reports of companies for the current year.