NEW YORK - US stocks are unlikely to make fresh lows thanks to the"do whatever it takes" approach of policy makers, according to Goldman Sachs Group.
"The Fed and Congress have precluded the prospect of a complete economic collapse," the strategists wrote."These policy actions mean our previous near-term downside of 2,000 is no longer likely" for the S&P 500 Index. Goldman cited policy measures, including rate cuts, the US Federal Reserve's Commercial Paper Funding Facility and fiscal stimulus such as the US$2 trillion Cares Act among the"numerous and increasingly powerful" actions that have spurred equity investors to take a risk-on view.
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