A Message from Edge Investment Solution's Damon Walker:
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Chart of the Week
US growth has likely reached peak acceleration as the economy reopens and activity normalizes. Even so, we believe the equity rally still has room to run. Historically, when economic activity (measured by ISM) is expansionary albeit decelerating, as it is today, the S&P 500 has still posted material gains. As such, we have upgraded our S&P 500 price forecast to 4700 for year-end.
Source: Goldman Sachs Asset Management. As of August 5, 2021.