MELBOURNE, Aug. 30 (UPI) -- U.S. stocks are likely to rise regardless of who wins the White House, a Goldman Sachs analyst told an executives meeting in Australia Monday.
Abby Joseph Cohen, who is the investment bank's oft-quoted global market strategist, told executives in Melbourne, Australia, ending uncertainty over the race for the White House is just one of several factors poised to drive equity markets higher in the next six to 12 months.
While declining to forecast the outcome of the upcoming vote, Cohen noted on a historical basis, U.S. equity and bonds markets tend to perform better under a Democratic administration than under a Republican administration.
"It's a bit of an optical illusion where you think that many people believe that most investors prefer Republic administrations -- perhaps they do from the standpoint of their own personal preferences -- but markets do better under Democratic administrations," Cohen said.
The U.S. economy is expected to come under greater focus at this week's Republican convention in New York, with President Bush likely to outline plans on how to reinvigorate growth, she said.
