Goldman Sachs to bears: Calm down

Amid all the uncertainty in the market this year, Goldman Sachs has a message for investors: Relax.

"Investors are recognizing that the economic data for the United States is actually reasonably good," said Cohen, who joined Goldman in 1990, was named partner in 1998 and is now president of its Global Markets Institute.

Cohen justified her firm's S&P price target of 2,100 by noting that strong jobs data, as well as promising durable goods orders, will continue to drive the economy. In February, the U.S. added 242,000 jobs while order for long-lasting products rebounded from a drop in January. For this reason, Cohen remains focused on exposure to economic growth through investing in equities, particularly in the energy sector.

"Energy stocks have been very hard hit and, with our expectation that crude prices will be moving higher during the course of 2016, that might be another place to be looking," said Cohen, who added that Goldman's commodities team has a six- to 12-month price target for Brent within the $40-$50 range.

Despite the positivity, Cohen noted that strong emotion has overshadowed reason in recent months and has therefore contributed to volatility. She highlighted a trifecta of uncertainties as the key drivers of tension among investors: A rocky global economy, the current U.S. political cycle and Fed policy.

Since March 2009, the S&P has been the fifth best bull market by percentage gain having increased 195 percent. Additionally, it's the third longest bull market since 1928.

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