Strap in your seatbelts, folks. The second half of this year is going to be killer, says the strategists at Goldman Sachs (GS).
Bloomberg: Goldman Sachs Group Inc. boosted its forecast for the Standard & Poor 500 Index, saying improving earnings will spur the steepest second-half rally since 1982.
The benchmark index for U.S. stocks will advance 15 per cent from its June 30 level to 1,060 on Dec. 31, an increase from David Kostin’s prior projection of 940. The chief U.S. investment strategist at New York-based Goldman Sachs also lifted his 2009 and 2010 earnings estimates for S&P 500 companies to $52 and $75 a share, which are 30 per cent and 19 per cent higher than prior estimates.
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