Step Aside, Elaine. Now, The Big Name Is Abby
Investors were already getting skittish when strategist Abby Joseph Cohen of Goldman, Sachs & Co. offered an upbeat forecast for the second half of 1996. In her July 2 report, she argued that good corporate earnings and a benign interest-rate backdrop would send the Standard & Poor's 500-stock index to 700, or 6000 on the Dow Jones industrial average, by yearend. At that point, the Dow stood a little above 5700.
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