Goldman Sachs suddenly raises the target of S&P 500 while the United States and China agree to reduce the 115%prices: Report
The giant of financial services Goldman Sachs would predict that the S&P 500 (SPX) will reach a new record of all time in the next 12 months in the middle of the market conditions.
In an investment note, Goldman analysts have increased their one -year objective for the S&P 500 from 6,200 to a new record of 6,500, reports Bloomberg.
According to a team led by the chief strategist of American shares, David Kostin, the stock market index will collect approximately 11% of the current levels after the White House announced an initial trade agreement with China which massively reduces the prices on both sides.
Said Treasury secretary Scott Bessent,
“We have concluded an agreement on a 90 -day break and considerably reduced the rate levels – both parties, on the reciprocal prices, will drop their prices down 115%.”
Goldman notes that the agreement between the two economic powers has appeased the risks of recession and the uncertainty of the market.
While the Kostin team remains optimistic on the long -term stock market, Goldman's strategists think that the recent gathering of the S&P 500 may soon lose steam after reaching their three -month target of 5,900 on Monday. They remain cautious in the short term, warning that current conditions do not support a sustained market rebound.
“The already optimistic market pricing of economic growth prospects as well as uncertainty surrounding the extent of the imminent slowdown in economic growth and profits will probably keep a ceiling on the multiple equity in the coming months.”
From Tuesday's fence, the S&P 500 is negotiated at 5,886.
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