Goldman says market is unlikely to make new lows because government is doing 'whatever it takes'

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Goldman Sachs acknowledged that its call for a deeper sell-off is "no longer likely" as it underestimated the unprecedented policy actions to offset the coronavirus impact.

The bank said the stock market has likely bottomed and it's pricing in a "sharp" economic recovery. It previously predicted the S&P 500 would trough at 2,000 mid-year.