May ⁠22 (Reuters) - UBS Global ⁠Wealth Management raised ‌its 2026 year-end target for the S&P ​500 to 7,900 ⁠from 7,500 ⁠previously, citing resilient consumer ⁠spending ‌and seemingly insatiable ⁠demand for data center ​infrastructure.

In ‌a note dated May ⁠21, ​the brokerage said U.S. stocks ⁠have hit new ​highs despite ongoing uncertainty over Middle ⁠East energy flows, driven by hopes of an end ​to ⁠the conflict, strong first-quarter ​earnings, ‌and AI momentum.