Key Takeaways Goldman Sachs raised its projections for the S&P 500 after the U.S. and China agreed to lower tariffs on each other's imports for 90 days.The analysts said they now expect 11% growth from the index over the next 12 months.

Major brokerages have scaled back their U.S. recession forecasts following a temporary tariff truce between the U.S. and China, which has fueled optimism for easing global trade tensions. Goldman Sachs reduced its U.