Goldman Sachs: If there is no monetary policy support, the rise of US stocks may be difficult to sustain.

Murphy Grissman, Managing Director of Asset Allocation Research at Goldman Sachs, stated that the recent rise in U.S. stocks requires the Federal Reserve to restart interest rate cuts in order to maintain momentum. He described the recent stock market rebound as a "rapid and fierce recovery phase," partly driven by technical factors, including hedge funds that were forced to rebuild their positions after previously selling stocks to reduce risk. While the S&P 500 is expected to rise over 3% for the third consecutive week, he questioned whether the upward trend is sustainable without monetary policy support. He pointed out that despite the stock market's rise, oil prices remain high and the credit market lags behind. The excellent performance of the stock market is partly due to high exposure to technology stocks.