- Hostage to Headlines
- Facebook Analyst Reports All Over the Map
- More Fallout From the Facebook Fiasco
- Facebook and Morgan Stanley's 99 Problems
- Lousy Economic Numbers, but Stocks Hold Up
- Eurobond Talk: Good News and Bad News
- Hopes Fading for Big Announcement From EU Leaders
- European 'Crisis Tennis' Again
- Facebook IPO 'Conspiracy' Theories Abound
- OK, Facebook Is Embarrassing
- Spain's Debt Costs Near Danger Level: Is Bailout Next?
- US Markets Will Be Watching Europe—And Jobs Report
- European Companies Plan for Greek Unrest and Euro Exit
- Public Pensions Faulted for Bets on Rosy Returns
- Greece to Leave Euro Zone on June 18: Wealth Manager
- Italy 2-Year Borrowing Costs at Peak Since December
- Euro Bond Wins Supporters, but Details Remain Vague
- German, UK Bond Yields Will Go Even Lower
- Labor Board Member Resigns Over Leak to GOP Allies
MOST SHARED
- Greece Pours $22.6 Billion Into Four Biggest Banks
- Europe Has Wall Street's Bull on a Short Leash
- Greece to Leave Euro Zone on June 18: Wealth Manager
- Spain's Borrowing Costs Near Danger Level: Bailout Next?
- Winemaking Lures the Wealthy, But Not With Profits
- Collectors Wary Of Investing In Josh Hamilton
- The Shortage of Women Billionaires
- 5 Spots Where the Dollar Buys a Great Vacation
- 10 Ways to Save Money by Spending More
MOST POPULAR
HOT ON FACEBOOK
US Stocks Could Rise Further; Double-Dip Less Likely: Cohen
Text Size 
 |
AP Abby Joseph Cohen |
Stock prices still have room to rise further, and recent economic reports show there is less chance of a double-dip recession in the US, well-known market guru Abby Joseph Cohen told CNBC Tuesday.
"The stock market is almost always a discounting mechanism that almost always moves in advance of the economy, but we don't think it has moved too far at this point," Cohen said in a live interview.
The chief market strategist for Goldman Sachs [GS
Loading...
()
] has placed a price target for the S&P 500 [.SPX
Loading...
()
] of 1250 and 1300 for year's end — unchanged from what she predicted in December. The S&P is currently around 1140.
Though she admitted many investors missed the "dramatic" opportunities in place a year ago, Cohen said lower volatility and lesser correlations between assets and within markets has led to a gradual return to the markets.
Specifically, she's seen more risk-taking among investors investors, who have started moving money from mutual funds into equities, and purchasing corporate bonds instead of Treasurys.
"Clearly investor psyche was very hard hit during the credit crisis and the recession," she said.
There is also less likelihood of a double-dip recession, Cohen said.
She cited the fact that companies are increasing their dividends, employment figures are less bad, and there's increased demand for things such as new orders.
Data is a real-time snapshot *Data is delayed at least 15 minutes
