Evercore ISI's Julian Emanuel Raises Year-End Forecast for S&P 500 to 6,000, Driven by AI and Optimisim of Economic Recovery

Evercore ISI's chief equity and quantitative strategist, Julian Emanuel, raised his year-end forecast for the S&P 500 Index to 6,000, the highest among major equity strategists tracked by Bloomberg. Optimism over continued economic resilience, improving corporate earnings, and ending the Federal Reserve's tightening cycle has pushed the S&P 500 up 14% so far this year. Emanuel cited ebbing inflation and enthusiasm around artificial intelligence as factors that will propel stocks even higher through the end of 2024. Emanuel also raised his estimates for S&P 500 earnings per share in 2024 and 2025.