Major brokerages have turned buoyant on the benchmark S&P 500 index, betting on resilient corporate earnings and stable U.S. economy, despite companies flagging hits due to tariffs.

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As the gap widens between bullish targets from brokerages and cautious signals from companies, the market's trajectory may hinge on how effective tariff mitigation strategies would prove to be.

In the past week, Goldman Sachs and BMO became the latest brokerages to raise their year-end S&P 500 targets.

A major focus for Wall Street this week is a standoff between Republicans and Democrats over federal funding, which has raised the prospect of a government shutdown starting Wednesday, the first day of the U.S. government's new fiscal year.

The U.S. economy is expected to grow between 1% and 2% this year, according to estimates from leading brokerages.

Following are the forecasts from some top banks on the S&P 500 benchmark index: