Goldman Sachs raises S&P 500 index target due to cooling trade war and reduced risk of economic recession.

Due to the easing of trade tensions, the "buy America" trade has made a comeback, prompting Goldman Sachs to raise its target for U.S. stocks. Strategists such as David Kostin now expect the S&P 500 index to reach 6,500 in the next 12 months, up from the previous target of 6,200. The new forecast implies an increase of approximately 11% from Monday's closing level.