Amid the latest agreement struck between the US and China, Goldman Sachs is now seeing the probability of a recession in the US over the next 12 months at 35%. Their previous projection was 45%. Given that, they are now expecting the Fed to only deliver one rate cut this year as compared to their previous forecast of three rate cuts.
Meanwhile, the firm also raises its year-end target for the S&P 500 to 6,100 now - up from 5,900 previously.
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