In terms of the U.S. market, Goldman is encouraging investors to look at indices other than the S&P 500, which isn't expected to have much more upside by the end of the year.
"We expect the S&P 500 will reach 2100 by year-end, representing a 2% price gain from the current level. Given limited S&P 500 upside, we recommend investors buy the Nasdaq 100, which trades at a modest P/E premium to the S&P 500 (18x vs. 17x) despite having much higher expected EPS growth (14% vs. 5%)," said Goldman.
The note also included a table of the stocks they see having the most upside as well as those with the most downside. Top names include Chesapeake Energy, Delta Air Lines, and American Airlines.