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US Stock Market: Goldman Sachs raises S&P 500 target to 8,000 on AI-driven earnings optimism

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US Stock Market: Goldman Sachs raises S&P 500 target to 8,000 on AI-driven earnings optimism
Goldman Sachs has raised its year-end 2026 target for the S&P 500 index to 8,000 from 7,600, betting that resilient corporate earnings and continued momentum in artificial intelligence-related investments will keep driving U.S. equities higher, according to a Reuters report.

The revised target implies a potential upside of about 6.4%, highlighting the brokerage’s growing confidence in the strength of the U.S. corporate sector despite concerns around inflation, geopolitical tensions, and slowing consumer demand.

According to Reuters, Goldman Sachs believes earnings growth has been the primary force behind the market’s rally this year and expects the trend to continue in the months ahead. The brokerage noted that rising profits, rather than valuation expansion, have largely powered gains in the benchmark index.

The Wall Street firm also upgraded its earnings-per-share estimates for the S&P 500. Goldman now expects earnings to reach $340 in 2026, representing a projected annual growth of 24%, while forecasts for 2027 were lifted to $385 per share, implying another 13% increase.

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The bullish revision adds to a broader wave of optimistic calls from major brokerages. UBS Global Wealth Management also raised its market outlook recently, pointing to robust AI-driven earnings growth that could help offset inflationary pressures and supply-chain risks linked to the ongoing Iran conflict.


Goldman Sachs expects companies tied to AI infrastructure development, particularly semiconductor and technology firms, to remain key contributors to earnings growth. The brokerage estimates that AI-related beneficiaries could account for nearly half of the S&P 500’s earnings expansion this year.
While Goldman acknowledged risks from softer consumer spending and elevated operational costs, it believes strong investment in AI technologies and infrastructure will continue to support profitability across major sectors.Goldman analysts observed earnings estimates for the broader index rising faster than stock prices in recent months, while semiconductor companies central to the AI boom have continued to outperform even their improving earnings outlooks.

The latest forecast underscores how deeply AI enthusiasm has become embedded in Wall Street’s expectations for future corporate growth and market performance.

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Sound Energy publishes annual report, sets June 22 AGM date

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Sound Energy publishes annual report, sets June 22 AGM date

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2026 FIFA World Cup 48 Teams Power Rankings and Group-by-Group Analysis Ahead of North American Kickoff

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Lionel Messi, Paris Saint-Germain

NEW YORK — With the 2026 FIFA World Cup set to begin on June 11 in Mexico City, the expanded 48-team tournament promises unprecedented drama across three host nations. For the first time, the global showpiece features 12 groups of four, with the top two from each advancing alongside the eight best third-placed teams to a 32-team knockout stage.

As of late May 2026, FIFA rankings and recent form provide a clear hierarchy, though the expanded format offers more opportunities for surprises. France currently lead the world rankings, followed closely by Spain and Argentina. Hosts United States, Mexico and Canada enter with home advantage but varying expectations. Debutants such as Cape Verde, Curaçao, Jordan and Uzbekistan add fresh storylines to the competition.

Below is a comprehensive power ranking of all 48 qualified teams, followed by detailed group analysis and key strengths, weaknesses and predictions for each side.

Overall Power Rankings (1-48)

1. France Current FIFA rank: 1. Defending runners-up from 2022 and Euro 2024 finalists, France boast unmatched depth. Kylian Mbappé remains the world’s most dangerous forward, supported by a formidable defense featuring William Saliba, Dayot Upamecano and Jules Koundé. Les Bleus enter as clear favorites.

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2. Spain FIFA rank: 2. Fresh from recent tournament success, Spain play with fluid possession and tactical discipline under their current coach. Young talents like Pedri and established stars create a balanced squad capable of winning the title.

3. Argentina FIFA rank: 3. Lionel Messi’s final World Cup? The defending champions retain core pieces from 2022 glory. Their blend of experience and tactical maturity under Lionel Scaloni makes them perennial contenders.

4. England FIFA rank: 4. A golden generation led by Jude Bellingham, Phil Foden and Harry Kane. Gareth Southgate’s side has consistently reached knockout stages but seeks that elusive major trophy.

5. Brazil FIFA rank: 6. Despite recent inconsistencies, Brazil’s attacking talent remains unmatched. With stars like Vinícius Júnior and a revamped defense, they are always dangerous.

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6. Portugal FIFA rank: 5. Cristiano Ronaldo’s presence ensures global attention. A strong supporting cast and tactical organization make them knockout regulars.

7. Germany FIFA rank: 10. Rebuilding under new leadership, Die Mannschaft possess Bundesliga depth and home-like support in North American venues.

8. Netherlands FIFA rank: 7. Tactical flexibility and technical quality define this Oranje side, always capable of stunning results.

9. Belgium FIFA rank: 9. The golden generation transitions with Kevin De Bruyne still pulling strings. Experience remains their greatest asset.

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10. Morocco FIFA rank: 8. Semi-finalists in 2022, the Atlas Lions have built on that momentum with strong African performances.

(Continuing the ranking for brevity in this excerpt, full detailed analysis follows in group sections.)

Group Stage Analysis

Group A: Mexico, South Korea, South Africa, Czechia Hosts Mexico start as slight favorites in an open group. South Korea bring organization and set-piece threat, while South Africa and Czechia offer physicality and tactical discipline. Mexico’s home support at Estadio Azteca could prove decisive. Predicted order: 1. Mexico, 2. South Korea, 3. Czechia, 4. South Africa.

Group B: Canada, Bosnia and Herzegovina, Qatar, Switzerland Co-host Canada faces a challenging but winnable group. Switzerland’s experience makes them dangerous, while Bosnia and Qatar add unpredictability. Canada’s passionate home crowds will be key. Predicted order: 1. Switzerland, 2. Canada, 3. Bosnia and Herzegovina, 4. Qatar.

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Group C: Brazil, Morocco, Haiti, Scotland Brazil should top this group comfortably. Morocco’s counter-attacking style poses the biggest threat. Scotland and debutant Haiti will fight for third. Predicted order: 1. Brazil, 2. Morocco, 3. Scotland, 4. Haiti.

Group D: United States, Australia, Paraguay, Türkiye The host USMNT faces tough competition. Türkiye’s attacking flair and Paraguay’s organization create a competitive pool. Australia adds physicality. Predicted order: 1. United States, 2. Türkiye, 3. Paraguay, 4. Australia.

Group E: Germany, Curaçao, Ivory Coast, Ecuador Germany are clear favorites. Ivory Coast and Ecuador offer pace and physicality, while debutant Curaçao will gain valuable experience. Predicted order: 1. Germany, 2. Ecuador, 3. Ivory Coast, 4. Curaçao.

Group F: Netherlands, Japan, Sweden, Tunisia A highly competitive group. Netherlands edge it on quality, but Japan’s tactical discipline, Sweden’s set pieces and Tunisia’s resilience make advancement difficult. Predicted order: 1. Netherlands, 2. Japan, 3. Sweden, 4. Tunisia.

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Group G: Belgium, Egypt, Iran, New Zealand Belgium should progress, but Egypt and Iran bring defensive organization and counter-attacking threat. New Zealand adds physical presence. Predicted order: 1. Belgium, 2. Egypt, 3. Iran, 4. New Zealand.

Group H: Spain, Cape Verde, Saudi Arabia, Uruguay Spain are strong favorites. Uruguay’s experience and Saudi Arabia’s organization challenge them, while debutant Cape Verde brings enthusiasm. Predicted order: 1. Spain, 2. Uruguay, 3. Saudi Arabia, 4. Cape Verde.

Group I: France, Senegal, Iraq, Norway France are expected to dominate. Senegal’s athleticism and Norway’s attacking talent (led by Erling Haaland) create danger. Iraq adds resilience. Predicted order: 1. France, 2. Senegal, 3. Norway, 4. Iraq.

Group J: Argentina, Algeria, Austria, Jordan Argentina enter as defending champions and favorites. Algeria and Austria provide quality, while debutant Jordan seeks upsets. Predicted order: 1. Argentina, 2. Austria, 3. Algeria, 4. Jordan.

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Group K: Portugal, DR Congo, Uzbekistan, Colombia Portugal should top the group. Colombia’s creativity and DR Congo’s athleticism challenge them, with debutant Uzbekistan rounding out the pool. Predicted order: 1. Portugal, 2. Colombia, 3. DR Congo, 4. Uzbekistan.

Group L: England, Croatia, Ghana, Panama England and Croatia headline this tough group. Ghana’s speed and Panama’s organization add layers. Predicted order: 1. England, 2. Croatia, 3. Ghana, 4. Panama.

Key Storylines Across All Teams

Favorites (France, Spain, Argentina, England, Brazil) These sides possess the squad depth, tactical flexibility and star power to win the tournament. France’s attacking options and defensive solidity give them a slight edge in current rankings.

Dark Horses Morocco, Senegal, Japan, and Colombia have the organization and talent to reach quarterfinals or beyond. Their ability to compete physically and tactically against European and South American giants makes them dangerous.

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Hosts’ Prospects United States, Mexico and Canada benefit from home advantage and passionate crowds. The USMNT aims for a deep run, Mexico seeks quarterfinal progression, and Canada hopes to advance from the group stage.

Debutants Cape Verde, Curaçao, Jordan and Uzbekistan bring fresh energy. While unlikely to advance far, their participation represents significant milestones for their footballing histories.

Veteran Nations Teams like Uruguay, Croatia and Portugal rely on experience and leadership to navigate the expanded format. Their ability to manage fixture congestion across a month-long tournament will be tested.

Tactical and Strategic Outlook

The 48-team format reduces early pressure but increases overall matches to 104. Teams must balance rotation with performance across potentially seven games to reach the final. High pressing, set-piece execution and squad depth will prove decisive.

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Coaching quality varies significantly. Nations with experienced managers like Scaloni (Argentina), Deschamps (France) and Southgate (England) hold advantages in preparation and in-game adjustments.

Fan and Cultural Impact

The 2026 tournament across the United States, Canada and Mexico promises record attendance and global viewership. Cultural exchanges between fans from 48 nations will enrich the event, while economic benefits for host cities are substantial.

Security, infrastructure and sustainability measures have been prioritized by organizers. The expanded format allows more nations to experience World Cup glory, fulfilling FIFA’s goal of greater global inclusion.

Final Predictions

Championship Favorites: France, Spain, Argentina Surprise Semi-Finalists: Morocco, Japan, Colombia, Senegal Top Scorer Candidates: Mbappé, Haaland, Vinícius Júnior, Kane Breakout Stars: Young talents from debutant nations and emerging European prospects.

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The 2026 World Cup represents a new era for international football. With 48 teams showcasing diverse styles and stories, the tournament is poised to deliver memorable moments from Vancouver to Atlanta and Mexico City.

As teams finalize preparations, the focus shifts to on-field execution. The beautiful game’s global appeal reaches new heights with this historic edition, promising excitement, drama and unforgettable football for fans worldwide.

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China Fines Futu and Tiger Brokers Over Illegal Cross-Border Trading

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Asia Markets Reel as Energy Shock Fears Escalate

In a significant move to uphold its strict capital controls, China’s top securities regulator, the China Securities Regulatory Commission (CSRC), has announced penalties against three major brokerages—Tiger Brokers, Futu Holdings, and Longbridge Securities. These firms have been accused of facilitating illegal cross-border securities trading for mainland Chinese clients without the necessary regulatory approvals.

Key Developments

  • Regulatory Actions: The CSRC has stated that these brokerages violated the country’s securities laws and disrupted market order by enabling trades of foreign securities. As a result, the commission plans to confiscate all illegal gains from both onshore and offshore entities of these companies and impose hefty fines. Notably, Futu Holdings could face a fine of Rmb1.85 billion (approximately $271 million), while Tiger Brokers has been notified of a proposed fine of Rmb308 million, in addition to the confiscation of about Rmb103 million in illegal income.
  • Background of Violations: This crackdown comes three years after the CSRC began its campaign to eliminate services that allow retail traders to circumvent capital controls. These brokerages had previously enabled mainland clients, including tech workers managing overseas equity, to access foreign securities, particularly U.S. stocks, despite lacking the proper licenses.
  • Market Reactions: Following the announcement of these penalties, shares in US-listed UP Fintech, the parent company of Tiger Brokers, and Futu Holdings plummeted by over 40% in pre-market trading.

Regulatory Framework

The CSRC’s actions are part of a broader initiative to ensure the stability and order of China’s capital markets. In a joint statement with several other agencies, the regulators emphasized the importance of directing mainland investors toward legal investment channels, such as Stock Connect, Wealth Management Connect, and Qualified Domestic Institutional Investor (QDII) programmes. However, these programs have their own limitations, as they primarily allow access to Hong Kong-listed stocks and are subject to investment quotas.

Company Responses

In light of the regulatory scrutiny, both Futu and Tiger Brokers have committed to compliance with the new regulations. Futu Holdings has pointed out that clients in mainland China represent only 13% of its total asset-holding clientele, indicating a strategic focus on maintaining operations while adhering to regulatory requirements.

The CSRC’s decisive actions reflect China’s ongoing efforts to tighten control over its securities market and prevent illegal trading practices. As the regulatory landscape evolves, it remains crucial for both investors and brokerage firms to navigate these changes carefully, ensuring compliance while seeking legitimate avenues for investment.

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Italian consumer confidence beats expectations in May while business morale drops

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Earnings call transcript: Elekta Q4 2026 sees mixed results, stock drops 14%

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Iran and US trade air strikes after Trump dismisses report of Hormuz deal

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Iran and US trade air strikes after Trump dismisses report of Hormuz deal


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Calamos Global Convertible Strategy Q1 2026 Commentary

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Calamos Global Convertible Strategy Q1 2026 Commentary

Calamos Investments is a diversified global investment firm offering innovative investment strategies including U.S. growth equity, global equity, convertible, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London, New York and San Francisco.  For more information, please visit www.calamos.com.

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Justin Bieber Extends Record with Fifth Best Male Pop Artist Win at 2026 American Music Awards

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Justin Bieber performs a medley of songs at the 2016 Billboard Awards in Las Vegas

LOS ANGELES — Justin Bieber extended his record as the most decorated artist in the best male pop artist category, securing his fifth victory at the 2026 American Music Awards held in Las Vegas on Wednesday night.

The Canadian singer, who previously won the award in 2010, 2012, 2016 and 2020, added to his trophy collection at the fan-voted ceremony. The win brings Bieber’s total American Music Awards to 19, tying him with the late Kenny Rogers for the second-most wins by a male artist. Michael Jackson holds the record with 24 trophies.

Bieber entered the evening with four nominations, including artist of the year, album of the year for his chart-topping release “Swag,” and best R&B album. While those honors went to other acts — Bruno Mars won album of the year for “The Romantic,” BTS took artist of the year, and Sabrina Carpenter claimed album of the year for “Man’s Best Friend” — his male pop artist victory highlighted his enduring popularity across more than 15 years in the industry.

A Career Milestone in Las Vegas

The 32-year-old performer first claimed the favorite pop/rock male artist award in 2010 under its previous name. His consistent success in the category underscores his transition from teen sensation to one of pop music’s most influential figures. Wednesday’s win further cements his status as a generational talent with broad appeal among voters.

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Bieber’s recent resurgence has been notable. Following a stripped-back performance at the Grammy Awards in February, he delivered back-to-back headlining sets at Coachella in April. Those appearances marked his first full-scale live shows since cancelling portions of his 2022 tour due to health concerns, including Ramsay Hunt syndrome.

On streaming platforms, Bieber returned to No. 1 as the most-listened-to artist on Spotify with 140 million monthly listeners, reclaiming the top spot for the first time since 2021. Multiple tracks and albums from his discography re-entered Billboard charts, with the “Swag” single “Everything Hallelujah” debuting on the Canadian Hot 100 following a viral TikTok trend. The 2012 hit “Beauty and a Beat” featuring Nicki Minaj climbed back to No. 4 on the Canadian chart, its highest position in nearly 14 years.

Bieber’s Path to 19 AMAs

Bieber’s American Music Awards success reflects his commercial dominance and fan loyalty. From his early breakthrough with “Baby” to mature releases like “Purpose” and “Swag,” the singer has maintained relevance across evolving music trends. His 19 wins place him among the most awarded artists in AMAs history, a ceremony that emphasizes fan voting.

The 2026 ceremony also recognized other major acts. BTS claimed artist of the year, continuing their global influence, while emerging pop star Sabrina Carpenter and veteran Bruno Mars took home major album honors. Bieber represented the lone Canadian winner among nominees that included Tate McRae, Drake and The Weeknd.

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Recent Momentum and Comeback Narrative

Bieber’s 2026 awards appearance arrives during a period of renewed momentum. After focusing on health and family in recent years, including his marriage to Hailey Bieber and fatherhood, the artist has balanced personal life with professional commitments. His Coachella performances received positive reviews for their emotional depth and stripped-back arrangements.

The viral success of tracks from “Swag” demonstrates his continued ability to connect with younger audiences through social media platforms. Industry observers note that Bieber’s willingness to evolve musically while maintaining core pop-R&B elements has sustained his career longevity.

His return to the top of Spotify listening charts highlights the streaming economy’s role in modern artist success. Achieving 140 million monthly listeners places him among the platform’s elite, reflecting sustained global demand for his catalog.

Impact on Canadian Music Scene

As the only Canadian winner at the 2026 AMAs, Bieber’s victory spotlighted the country’s contributions to global pop music. Fellow Canadian nominees Drake, The Weeknd and Tate McRae represent different generations and styles, underscoring Canada’s diverse influence on contemporary charts.

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Bieber’s achievements have paved the way for newer Canadian artists while maintaining his position as one of the nation’s most successful exports. His record in the male pop artist category stands as a benchmark for consistency in a competitive field.

Looking Ahead for Bieber

With 19 AMAs and a revitalized presence, Bieber enters the next phase of his career with significant options. Future projects may explore new musical directions while building on the success of “Swag.” Industry sources suggest potential collaborations and touring plans could be announced later in 2026.

Bieber’s journey reflects broader trends in the music industry, where established artists balance legacy-building with adaptation to streaming, social media and evolving fan expectations. His ability to rebound from health challenges and maintain commercial viability positions him as a model of resilience.

The American Music Awards continue to serve as a major platform for celebrating fan-favorite artists across genres. The 2026 edition highlighted both veteran performers and rising stars, with Bieber’s record-extending win providing one of the evening’s standout moments.

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As Bieber processes this latest honor, fans and industry figures alike anticipate his next moves. Whether through new music, live performances or personal milestones, the artist who first captured global attention as a teenager continues to shape pop culture more than 15 years into his career.

His fifth best male pop artist trophy adds another chapter to an already impressive awards resume. In a competitive landscape where longevity is rare, Bieber’s sustained success demonstrates the power of adaptability, strong fan connections and consistent artistic output.

The 2026 American Music Awards will be remembered for honoring both established icons and fresh talent. For Justin Bieber, the night reinforced his unique place in music history as one of the most awarded and enduring male pop artists of his generation.

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At Close of Business podcast May 28 2026

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At Close of Business podcast May 28 2026

Ella Loneragan and Isabel Vieira discuss the under-representation of female leaders in public companies.

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Tech-Stock Rally Pushes Micron to $1 Trillion Market Cap

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Jared Mitovich hedcut

U.S. semiconductor and memory stocks rallied on Tuesday, led by Micron, which soared 19% and traded above a $1 trillion market capitalization for the first time.

After its biggest daily gain since 2011, the tech stock passed Walmart and Eli Lilly to become the 10th-largest U.S. company by market value.

Micron stock, which closed at $895.88, is up a staggering 830% from a year ago, when it closed at $96.38.

The latest stage of the revival began Friday when shares of Qualcomm rose more than 12% on the company’s deal with global automaker Stellantis to support artificial-intelligence-powered vehicles. The momentum continued earlier Tuesday in Asia, with South Korea’s Kospi index rallying 2.6%, helped by gains in chip-making champions Samsung Electronics and SK Hynix.

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