HSBC raises S&P 500 year-end target to 6400 on AI boom, easing policy uncertainty

Aug 5 (Reuters) - HSBC on Tuesday raised its year-end S&P 500 .SPX index target by more than 800 points to 6400, citing euphoria around artificial intelligence and easing U.S. policy uncertainty.

"The AI trade is powering the tech/AI cohort higher (roughly half of the S&P 500) while reduced policy uncertainty (namely tariffs) is fueling the 'rest' of the market," HSBC strategists wrote in a note.