Wall Street

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.

The flying blind economy

Illustration of a one hundred dollar bill with Benjamin Franklin wearing a blindfold.
Illustration: Aïda Amer/Axios

CEOs, central bankers and money managers say they're operating in a world where they have no idea what's coming next, leaving them with few options but to prepare for the worst.

Why it matters: Uncertainty about a handful of unprecedented phenomena — like the grinding trade war with China, the peripatetic Brexit debate, and President Trump's government-by-tweet — is inflicting pain on the global economy.