BROKERAGES LIFT S&P 500 TARGET ON HOPES FOR SOFT LANDING AND RATE CUTS

Brokerages have raised their year-end targets for the U.S. stocks benchmark S&P 500, spurred by expectations of a "soft landing" for the economy and growing odds the Federal Reserve will cut interest rates this year.

U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend at the start of the second quarter in a boost to financial market expectations for a September interest rate cut.

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