Goldman Says U.S. Stocks Have Likely Bottomed on Policy Support
A pedestrian films himself while walking past the New York Stock Exchange on a nearly empty Wall Street in New York.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
U.S. stocks are unlikely to make fresh lows thanks to the “do whatever it takes” approach of policy makers, according to Goldman Sachs Group Inc.
A combination of unprecedented policy support and a flattening viral curve has “dramatically” cut risks to both markets and the American economy, strategists including David Kostin wrote in a note Monday. If the U.S. doesn’t have a second surge in infections after the economy reopens, equity markets are unlikely to make new lows, they said.