Each major investment bank compares the outlook for the S&P 500 index in 2026.

Deutsche Bank: 8000 points - up 17%, Wall Street most optimistic, betting on strong profits. Morgan Stanley: 7800 points - up 14%, believes AI capital expenditure and "rolling recovery" will bring momentum. JPMorgan Chase: 7500 points - up 10%, based on AI's "super cycle" bringing 13%-15% profit growth. Goldman Sachs: 7600 points - up 11%, expects to maintain steady momentum through the end of 2026. HSBC: 7500 points - up 10%, believes AI investments are still supporting the market despite economic volatility. Royal Bank of Canada: 7750 points - up about 13.5%, 12-month view still points to double-digit gains. Bank of America: 7100 points - up about 4%, believes market liquidity has been "emptied out."