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UBS: Expects the S&P 500 index to climb to 7500 points next year.
On November 10, UBS predicted that the S&P 500 index will rise to 7500 points next year, driven by a 14% increase in earnings, nearly half of which comes from the technology zone. The bank believes that the economic weakness at the beginning of 2026 will be replaced by stronger global growth in the second half. US stocks are expected to achieve a return of about 10%, with the main driver being corporate earnings rather than valuation expansion, and the rise is expected to expand to zones outside of technology giants by mid-year. UBS is more optimistic about stocks than credit bonds and expects the US market to outperform Europe and emerging markets.