US markets modestly weaker as a fresh round of trade talks between US and Chinese officials kicked in Shanghai and ahead of the Federal Reserve's latest monetary policy announcement - Dow slipped -23-points or -0.09% The broader S&P500 lost -0.26% (to 3013.18), Equity strategists at Goldman Sachs penned a note on Monday (29 July) raising their year end target for the S&P500 by +3% to 3,100 (implying a 24% full year gain) despite lowering their company earnings estimates for 2019 (by -US$6 per share and now expects 2019 earnings per share (EPS) growth to hit the lower end of their 3%-to-6% range predicted at the start of the year) and 2020. Goldmans also set a 2020 year-end price target of 3,400, a 10% rise from the 2019 target. The technology-centric NASDAQ dipped -0.24%. President Trump took to Twitter to observe that "China is doing very badly, worst year in 27 - was supposed to start buying our agricultural product now - no signs that they are doing so. That is the problem with China, they just don’t come through. Our Economy has become MUCH larger than the Chinese Economy is last 3 years...."
