According to CNBC, Citigroup strategist Scott Chronert reiterated his 8,100 year-end S&P 500 target in a note late Wednesday, 4.6% above Wednesday’s close. He said he sees a path higher for the index into year-end and that new highs remain possible despite challenges including increased debt issuance by AI companies; he acknowledged his 2026 forecast seemed aggressive. Alphabet shares fell 9% in early trading Thursday after its third-quarter results missed analyst expectations. Caterpillar also dropped 9% after revenue in its construction industries business came in slightly below estimates. The Cboe Volatility Index (VIX) reached 22.31 earlier this month, its highest level since June. A potential Federal Reserve rate hike in December is another challenge for stocks. Luis Alvarado, Wells Fargo Investment Institute’s co-head of global fixed income, expects the U.S. economy to remain resilient through 2027 even as growth slows, citing consumer spending, market liquidity, bank lending, corporate earnings and business investment in AI, infrastructure and other productivity-enhancing technologies.