Goldman Sachs

Goldman Sachs predicts stocks will rise in 2019 and 2020

Goldman Sachs trading booth on the floor of the New York Stock Exchange in New York, on Thursday, January 6, 2011. (Photo by Ramin Talaie/Corbis via Getty Images)
Goldman Sachs trading booth on the floor of the New York Stock Exchange. Photo: Ramin Talaie/Corbis via Getty Images

August's weak reading for the U.S. Institute for Supply Management manufacturing index has analysts at Goldman Sachs bullish on "an opportunity for equity investors."

What it means: Goldman Sachs is expecting the S&P to end the year at 3100, up a little more than 4% from its current level, and to finish 2020 at 3400, meaning another year of meaningful gains.

Exclusive: Goldman Sachs survey finds investors expect long trade war

Illustration of a briefcase with Chinese stars stuck in it
Illustration: Sarah Grillo/Axios

Wall Street is hunkering down for a longer, more intense trade war, according to Goldman Sachs' monthly poll of more than 1,000 of the bank’s institutional and corporate trading clients, which found that most expect tariffs to hold steady as talks continue.

The backdrop: The survey, which gauges the sentiment of sophisticated investors about market-related topics, was conducted on Aug. 1-2, as President Trump said he would tax the remaining $300 billion worth of Chinese imports next month.