Why JPMorgan Raised Its S&P 500 Target Despite Looming September Risks

The article frames the S&P 500’s recent strength as part of a rare August rally, supported by strong corporate earnings and fading expectations for further rate hikes. It notes that Wall Street has been raising year-end targets, with JPMorgan increasing its S&P 500 target despite recognizing September as a potentially riskier month for markets. A separate Barron’s note warns that the next major test for the equity rally will be upcoming inflation data, which could challenge the bullish tone if readings come in hotter than expected. Overall, the market backdrop remains constructive, but investors are being reminded that macro data—especially inflation—could quickly reverse sentiment and pressure equities.