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Gunjan Banerji reports that Goldman expects earnings growth to continue supporting U.S. equities, despite a bumpy path. The firm projects that the S&P 500 will rise 8 percent by year-end, reaching a target of 8000.
S&P 500 bottom-up operating earnings per share have climbed 13 percent since the start of first-quarter reporting, according to earlier reporting by Banerji. In equities, Micron's market value recently rose above $1 trillion after a 19.3 percent share increase, marking its largest gain since 2011 and joining the ten largest U.S. companies, Banerji noted in a separate article. These developments come as investors look for continued earnings growth to support stock valuations.