The Goldman SACHS giant is said to be expected to reach the S&P 500 (SPX) to the highest new level over the next 12 months amid improving market conditions.
In an investment note, analysts in Goldman raises their goal for one year for S&P 500 from 6200 to a new record of 6500, Reports Bloomberg.
According to a team led by David Costin, the largest American stock strategy, the stock market index will gather about 11 % of the current levels after the White House announced an initial business deal with China significantly reduces customs duties on both sides.
He says Treasury Secretary Scott Bessin,
“We have reached an agreement on a 90-day stand and we moved greatly to the levels of customs tariffs-both sides, on mutual definitions, they will transfer their definitions by 115 %.”
Goldman notes that the agreement between the economic forces has aimed at the risks of stagnation and uncertainty in the market.
While the Kostin team remains upward in the long -term stock market, the Goldman strategy believes that the last S&P 500 may lose Steam soon after achieving their goal for three months, which is 5900 on Monday. They remain careful in the short term, warning that the current conditions do not support the continuous recovery of the market.
“The detailed market pricing is already for economic growth expectations in addition to the uncertainty surrounding the extent of imminent slowdown in economic and profit growth is likely to maintain a ceiling on the complications of stocks during the next few months.”
As of Tuesday, the S&P 500 is trading at 5,886.
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