Goldman predicts a big run-up in S&P

As earnings have been largely better than expected for the second quarter, many analysts have started to offer sunnier estimates of how the stock market will do in the balance of the year. Some forecasts have been downright bullish.

According to Bloomberg, "Goldman Sachs Group Inc. boosted its forecast for the Standard & Poor 500 Index, saying improving earnings will spur the steepest second-half rally since 1982." The firm's new target for the index is 1060, a massive increase over its previous forecast of 940.