Goldman Sachs: The S&P 500 is expected to rise to 6,000 points by the end of the year amid a rally in tech giants

Goldman Sachs Group strategists maintained their forecast level of 5,200 points for the S&P 500 index by the end of the year, but there is a hypothetical scenario in which the tech giants lead the index to another 15%. Strategists such as David Kostin said in the report that Goldman Sachs maintains its current expectations because the path of the federal funds rate and the trajectory of economic growth are fully reflected in market pricing expectations. Due to the uncertainty surrounding the valuation outlook, analysts explored possible scenarios beyond the base case. One of the arguments, they said, is that valuations of big tech companies are likely to continue to climb, pushing the index to 6,000 by the end of the year with a forward price-to-earnings ratio of 23x.