Internet reports that as tariff news stirred financial markets and triggered investor concerns about the U.S. economic outlook, JPMorgan strategists warned that their forecast for U.S. stock market growth at the beginning of the year risked falling short. JPMorgan maintained its forecast for the S & P 500's year-end target of 6500 points, but warned that there was a "large standard error" in the forecast. This target means that the S & P 500 has about 13% room to rise by the end of the year from Thursday's close of 5,738.52. "It is likely that the S & P 500 will not reach this level until 2026," the team led by Dubravko Lakos-Bujas said in a note to clients on Thursday. The team pointed out that economic data fluctuates greatly, which to a certain extent indicates that economic growth is slowing down while inflation remains stubborn. The short-term fluctuation range of the S & P 500 index is expected to be between 5,200 and 6,000 points, and the trends of individual stocks may be highly differentiated.