Goldman Sachs' Cohen says S&P 500 'below where it belongs'

NEW YORK (AFX) - Goldman Sachs chief equity strategist Abby Joseph Cohen said she believes the S&P 500 is currently "below where it belongs."	    In an interview with CNBC, Cohen reiterated her view that the S&P 500 index lies below its fair value, and recent stockmarket weakness has made such valuations more compelling.	    Cohen added that she expects the U.S. economy to avoid "an intractable recession," and stabilize in the second half of the year.	    The corporate picture also looks positive, as "most bad news is out" before the earnings season's start. She expects actual earnings to be roughly in line with consensus estimates.	    Cohen reiterated her view that technology, financial services and some consumer cyclicals are particularly attractive.    

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