Deutsche Bank significantly raised its S&P 500 year-end target to 6,550, citing reduced tariff impacts and a strong economy, joining Goldman Sachs, UBS, and RBC in optimistic forecasts. Volatility is still expected.

• Tariff drag now estimated at one-third previously expected.
• S&P 500 EPS estimate increased to $267 per share.
• Potential for volatile pullbacks due to trade policy shifts.