Goldman Sachs Abruptly Lifts Target for S&P 500 as US and China Agree To Reduce Tariffs by 115%: Report – Crypto News – Crypto News
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Goldman Sachs Abruptly Lifts Target for S&P 500 as US and China Agree To Reduce Tariffs by 115%: Report Goldman Sachs Abruptly Lifts Target for S&P 500 as US and China Agree To Reduce Tariffs by 115%: Report

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Goldman Sachs Abruptly Lifts Target for S&P 500 as US and China Agree To Reduce Tariffs by 115%: Report – Crypto News

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Financial services giant Goldman Sachs is reportedly predicting that the S&P 500 (SPX) will hit a new all-time high over the next 12 months amid improving market conditions.

In an investment note, analysts at Goldman raise their one-year target for the S&P 500 from 6,200 to a new record high of 6,500, reports Bloomberg.

According to a team led by chief US equity strategist David Kostin, the stock market index will rally about 11% from current levels after the White House announced an initial trade deal with China that massively reduces tariffs on both sides.

Says Treasury Secretary Scott Bessent,

“We have reached an agreement on a 90-day pause and substantially moved down the tariff levels — both sides, on the reciprocal tariffs, will move their tariffs down 115%.”

Goldman notes that the agreement between the two economic powerhouses has allayed recession risks and market uncertainty.

While Kostin’s team remains bullish on the stock market over the long term, Goldman strategists believe the recent S&P 500 rally may soon lose steam after hitting their three-month target of 5,900 on Monday. They remain cautious in the near term, warning that current conditions do not support a sustained market rebound.

“Already-optimistic market pricing of the economic growth outlook as well as uncertainty surrounding the magnitude of impending slowdown in economic and earnings growth will likely keep a ceiling on equity multiples during the next few months.”

As of Tuesday’s close, the S&P 500 is trading at 5,886.

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