Goldman Sachs Says Up Cash Because Of Short-Term Uncertainty

Investing.com - With market uncertainty high and stocks stuck in a "fat and flat" range, Goldman Sachs (NYSE:GS) is
recommending that investors add cash to their portfolios in the short term,
The Wall Street firm upgraded cash to overweight for the next three months as a way to reduce risk. Goldman remains overweight in stocks.
In a note to clients, Goldman said trade policy and the midterm elections mean uncertainty for stocks in the short-term, even if the risks of a bear market are low.
It reduced fixed income to underweight, saying cash is a better hedge in the current environment.
Goldman has a year-end price target for the S&P 500 of 2,850, which is lower than many major Wall Street firms.