UBS Global Wealth Management

Money Moves

Reaffirmed 7,500 year-end S&P 500 target after April 7 ceasefire; index now at ~7,100, implying ~5-6% further upside

The S&P 500 sat near record highs at the end of February 2026. The index fell nearly 10% to a late-March trough after U.S. and Israeli forces launched air strikes against Iran on February 28. The strikes closed the Strait of Hormuz and sent Brent crude above $113 a barrel.

Updated May 30