The New York Stock Exchange stands in lower Manhattan on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City.While uncertainties around the economic reopening and fiscal stimulus still persist, angst is already building around the fast-approaching U.S. presidential election. The long list of risks prompted Goldman Sacks to recommend stocks with stable growth and strong balance sheets to ride out the bumpy road ahead.
"The near-term uncertainties around the US outlook and the risk of longer-term economic consequences should continue to favor stocks with strong secular growth prospects and 'quality' characteristics," Arjun Menon, vice president of U.S. equity strategy at Goldman, said in a note on Wednesday. The Wall Street firm broke down its outlook for each sector and which ones investors should favor against the current backdrop.
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