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To: changedmyname who wrote (75771)	5/19/1999 3:49:00 PM
From: JoAnn	Read Replies (2) \| Respond to of 119973

(REUTERS) Goldman's Cohen reiterates bullish outlook Goldman's Cohen reiterates bullish outlook EAST BRUNSWICK, N.J. May 19 (Reuters) - Downplaying recent market jitters over inflation and interest rates, Goldman Sachs chief U.S. equity strategist Abby Joseph Cohen said Wednesday she remains optimistic about the outlook for U.S. stocks. Cohen, one of Wall Street's most prominent bulls, told an audience at the New Jersey Business Conference that the fundamental underpinnings of the bull market -- solid profit growth coupled with benign inflation -- remain intact and the global economic environment shows signs of improving. "The world is getting better and we're happy about that," Cohen told business executives. "The profit picture is improving and we're pleased about that. But the inflation and interest rate environment is not about to deteriorate any time soon." Cohen said she expects profits for companies making up the Standard and Poor's 500 Index to grow 7 to 8 percent a year over the next couple of years. She also downplayed fears about inflation and higher rates, a day after the U.S. Federal Reserve indicated it was leaning towards tighter monetary policy. Cohen said that while last year's global economic turmoil, which damaged profits at many multinationals, had subsided, Japan's economy has yet to return to full health and Europe's economy is less than stellar. Therefore, she said, she did not expect economic growth to accelerate fast enough to force the Fed's hand. "The global economy will grow somewhat faster this year than last year but not by much," Cohen said. ((--Mary Kelleher, Financial services desk 212-859-1644)) REUTERS * end of story *