[Wells Fargo Raises Year-End Target for S&P 500 Index] According to a report by Jinse Finance, on June 17, Wells Fargo Securities stated that easing macroeconomic concerns, improved sentiment, and the market's digestion of rate hike expectations will drive U.S. stock markets higher. The firm raised its year-end target for the S&P 500 Index from 7,300 points to 7,950 points, representing approximately 5% upside from the index's closing level on Monday. The target adjustment comes as the U.S. and Iran prepare to formally sign a temporary peace agreement in Switzerland on Friday. The agreement will end months of conflict and restore passage through the critical Hormuz Strait. Wells Fargo equity analyst Ohsung Kwon noted that the easing tensions between the U.S. and Iran are alleviating macroeconomic concerns. He stated that inflationary pressures from rising oil prices may subside. Additionally, market sentiment for the Nasdaq 100 Index has stabilized in the neutral range, providing support for artificial intelligence (AI) stocks.