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Goldman: Market rally likely ahead. What to buy

David Kostin, chief U.S. equity strategist at Goldman Sachs Group.
Scott Eells | Bloomberg | Getty Images

As U.S. stocks shake off their worst month in almost four years, Goldman Sachs predicts a market rally could be in sight.

In a note to clients Friday, Goldman's market strategist David Kostin reiterated the firm's year-end target price of 2100, reflecting an upside move of 6 percent from here.

One reason for the bullishness relates to the firm's view on the U.S. market recovery, which according to the firm, will continue to grow despite economic weakness in China and other emerging markets.

"Continued positive macro-data will be essential if our forecast upside to domestic equities is to be realized," wrote Kostin.

The August jobs report will be released on Friday.

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