JPMorgan Ups S P 500 Forecast to 8,000 Points on Strong Earnings

JPMorgan Chase & Co.'s strategists have raised their S&P 500 Index forecast for the second time in two months. The team, led by Dubravko Lakos-Bujas, now sees the US benchmark rising to 8,000 points.

This implies gains of about 3% from Friday's close, according to the latest forecast. They had bumped their target to 7,800 from 7,600 in June.

The team cites strong corporate earnings and the payoff from massive artificial intelligence spending as reasons for the increased forecast.