About this episode

The episode discusses the updated S&P 500 price target and insights on market leadership and economic optimism.

The big things you need to know: First, we are lifting our 12-month S&P 500 price target to 8,150 from 7,900. We also think the recent outperformance of non-US developed markets and value could last a bit longer but ultimately expect equity market leadership to return to the US and big cap growth after the recent valuation problem is resolved. Second, we run through our thoughts on the upcoming reporting season, noting that the bar seems high from a data perspective. Third, the latest Duke CFO survey pointed to a slight downtick on economic optimism but a slight uptick on optimism on the outlook for one’s own company.

Topics covered

• market outlook
• S&P 500
• economic optimism
• equity markets
• reporting season

Keywords

• S&P 500
• market outlook
• economic optimism
• Duke CFO survey
• equity markets

Mentioned in this episode

Organizations: RBC Capital Markets

Products: S&P 500

Places: US, non-US

More episodes of RBC's Markets in Motion

• Mixed EPS Stats, Cautiously Optimistic Commentary · July 21, 2026 · 6 min
• S&P 500 Sector Recommendation Shuffle · July 13, 2026 · 6 min
• June Survey Results Reveal Optimism, Not Euphoria, Heading Into 2H26 · July 7, 2026 · 5 min
• Down the Valuation Rabbit Hole · June 15, 2026 · 7 min

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