The Globe and Mail reports in its Wednesday, July 9, edition that BofA Global Research and Goldman Sachs raised their year-end targets for the S&P 500, citing reduced policy uncertainty, strong corporate earnings and possible interest-rate cuts. A Reuters dispatch to The Globe reports that BofA lifted the benchmark's index target to 6,300 from 5,600, while Goldman upped its target to 6,600 from 6,100, implying an upside of 1 per cent and about 6 per cent to the last close of 6,229.28. This marks Goldman's second upward revision in two months, following a previous increase in early May. Earlier this year, major brokerages, including BofA, cut their targets below 6,000 after U.S. President Donald Trump's "Liberation Day" tariffs in April sparked fears of a U.S. recession and escalated global trade tensions, triggering a sell-off in equities. However, reductions in some tariff rates have since eased investor concerns, diminished recession risks and driven stocks to record highs last week. On Monday Goldman said, "A resilient outlook for 2026 earnings growth, the resumption of Fed rate cuts and neutral investor positioning argue for further market upside as the recent narrow rally broadens."