The S&P 500 forecast remained bullish toward 8,000 as Wall Street weighed higher inflation, proposed US tariffs and rising AI spending against resilient jobs data.
The SPDR S&P 500 ETF Trust, a market proxy for the S&P 500, traded at $741.75 as of 00:15 UTC on June 13, up 0.57% from its previous close. The SPDR Dow Jones Industrial Average ETF Trust traded at $513.06, up 0.73%, according to market data.
Technical indicators showed the S&P 500 could target 8,000 if it breaks above 7,600. A fall below 7,200 could risk a pullback toward 7,000, according to the market outlook.
The Dow Jones Industrial Average was targeting 55,000 after a breakout above 50,000, according to the same forecast.
Trade policy added another risk for investors. The Office of the United States Trade Representative said on June 2 that it proposed additional duties under Section 301 of the Trade Act of 1974, including a 12.5% rate for many economies.
Inflation also weighed on valuations after the Consumer Price Index rose 4.2% year over year in May 2026. Core CPI rose 2.9%, according to EY’s summary of US inflation data.
The labour market stayed firm as the US economy added 172,000 jobs in May 2026 after an upwardly revised 179,000 gain in April, according to labour-market data.
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AI capital spending at Alphabet Inc., Amazon Inc., Microsoft Corporation and Meta Platforms Inc. could support long-term growth, but could also put pressure on free cash flow if returns lag spending.
JPMorgan previously said the S&P 500 could surpass 8,000 in 2026 if inflation improved and the Federal Reserve eased further, according to Investing.com.
