Updated

Strategists at RBC Capital Markets, HSBC and Barclays have outlined price targets for the S&P 500 near 8,000, reflecting broad optimism about the index's continued climb. However, the same firms cautioned that risks to the rally are mounting, adding nuance to otherwise bullish forecasts for U.S. equities. That caution was echoed in fresh commentary noting that rising Treasury yields are testing the resolve of bulls across the S&P 500, Dow and Nasdaq, as higher borrowing costs pressure valuations even as major indexes hover near record levels. The combination of lofty price targets and climbing yields highlights a growing tension between optimistic long-term forecasts and near-term rate-driven headwinds.