S&P 500 Rises to 7,126 (+1.20%) as Wall Street Cuts Targets on Iran War – History Questions Bearishness

Wall Street firms including JPMorgan Chase and Wells Fargo have slashed S&P 500 year-end targets amid the Iran war, rising oil prices, and Strait of Hormuz risks, with Wells Fargo trimming from 7,800 to 7,300. Despite the cuts, the index trades at 7,126.06, up 1.20% today. The story highlights analysts' poor track record, underestimating the S&P 500 in five of the past six years with upside misses up to 28% (e.g., 2024: ~4,720 consensus vs. 5,881 actual). Investors are advised to stay invested long-term rather than react to short-term revisions.