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Goldman Likes Fundamentals, Refers to Market Sell-off As Technical

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CNBC reported today that Goldman Sachs (GS) analysts noted that the recent sell-off in the equity markets are technical in nature and that the fundamentals are still in place. They went on to reiterate their year-end target for the S&P 500 at year end as 2,850. Their positive outlook is directly attributed to the U.S. GDP growth which they said is “robust”.

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Goldman says sell-off is not fundamental, keeps year-end forecast for market

Goldman Sachs equity strategists reiterated their year end stock target and said the sell off is technical and driven by investor positioning, rather than fundamentals…

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