India, Aug. 11 -- JPMorgan is becoming more bullish on the US stock market. Strategists at JPMorgan Chase & Co. have raised their year-end target for the S&P 500 to 8,000 points, betting that strong corporate earnings and rising artificial intelligence spending can keep stocks moving higher.

The new target was released by a team led by Dubravko Lakos-Bujas, JPMorgan's chief US equity strategist. The team raised its S&P 500 forecast for the second time in just two months, showing growing confidence in the market.

JPMorgan had already raised its target to 7,800 from 7,600 in June. The latest 8,000 target means the bank now expects the index to gain about 3% from Friday's closing level, according to Bloomberg. A survey of 20 strategists by...