Goldman Sachs: US stock rally may be difficult to sustain without support from monetary policy

According to Golden Ten Data on April 17, Goldman Sachs Head of Asset Allocation Research Muller-Glisman stated that the recent rise in US stocks will require the Federal Reserve to resume interest rate cuts in order to maintain momentum. He described the recent stock market rebound as a "rapid and intense recovery phase", partly driven by technical factors, including hedge funds that had previously sold stocks to reduce risk and are now being forced to rebuild positions. Although the S&P 500 is expected to rise more than 3% for three consecutive weeks, he questions whether the rally is sustainable without monetary policy support. He pointed out that while the stock market is rising, oil prices remain high and the credit market is lagging. The excellent performance of the stock market is partly due to high exposure to technology stocks.