The profitability of the US banking industry is relatively large, and analysts have raised the target for the S&P 500 index.

On October 11, Golden Ten Data reported that S&P 500 futures were steady on Friday, as large U.S. banks, including JPMorgan Chase and Wells Fargo, reported better-than-expected third-quarter earnings, calming the market sentiment. Wolf von Rotberg, stock strategist at Bank J.Safra Sarasin, raised the target for the S&P 500 index for the next few quarters and believes that the banking industry has "surprising upside potential in earnings, as the overall economic cycle has improved since early September." Investors are now following the producer price data to be released later on Friday.

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