The economic run is not over and the U.S. 'is not close to recession,' according to Goldman Sachs.
"This downturn in manufacturing has been one of the longest on record and may start to stabilize, if not improve, somewhat soon," says Goldman global strategist Peter Oppenheimer.Goldman sees the S&P 500 to climb to 3,100 by year end, a 5% gain from Friday's close of 2,952.01.A slew of weak economic data last week fueled fears of a recession, but Goldman Sachs said Monday the U.S. is still not close to a downturn.
"This downturn in manufacturing has been one of the longest on record and may start to stabilize, if not improve, somewhat soon," Goldman chief global equity strategist Peter Oppenheimer said in a note. "Our economists remain of the view that growth has slowed but is not close to recession. ... Assuming no recession, it is too early to expect this equity bull market to end in our view.
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