Stocks entered a new bull market in March, and the S&P 500 could rise an additional 10% by the end of the year, Abby Joseph Cohen, senior investment strategist at Goldman Sachs, said on CNBC.

Cohen said GDP and industrial production figures will indicate that the recession is over. However, the labor market will not improve for some time to come, she said. In fact, Goldman has raised its forecast for GDP growth for the rest of the year from 1% to 3%, citing a need to replenish low inventories.

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