Key Takeaways Goldman Sachs raised its projections for the S&P 500 after the U.S. and China agreed to lower tariffs on each other's imports for 90 days.The analysts said they now expect 11% growth from the index over the next 12 months.

Goldman Sachs yesterday hiked its 12-month targets for the MSCI China Index and the CSI 300 Index to 84 from 78, and to 4,600 from 4,400, respectively, while maintaining its overweight rating on Chinese equities -- a clear buy signal with double-digit growth potential.