Wall Street strategists are raising their S&P 500 price targets above 8,000, with RBC Capital Markets maintaining its 12-month target at 8,150, and prominent strategist Ed Yardeni raising his year-end target to 8,400 (his third upward revision of 2026). However, analysts are cautioning that risks of a market pullback are growing. Signals include the CBOE Volatility Index dropping below 15, the 10-year Treasury yield climbing back above 4.7% after Federal Reserve Chair Kevin Warsh signaled at Jackson Hole that short-term rate increases are the appropriate response to persistent inflation, and earnings concentration with Nvidia and Micron driving roughly a third of the market's total 2026 profit growth.