Goldman Sachs says US inventory market might decline by year-end, however no bear market

Goldman Sachs says that the US
stock market may fall by the end of the year, citing the drag from:

• high
  valuations
• mixed
  growth prospects
• policy
  uncertainty

But, say analysts, the probability
of a bear market is low given the support for the economy from a healthy private sector. Also, support from Federal Open Market Committee (FOMC) rate cuts incoming.

Goldman Sachs says they are neutral at present but maintain a mild pro-risk stance over a 12 month horizon.