O'Neill: Why I am preparing for fresh S&P rally

The chairman of Goldman Sachs Asset Management, Jim O'Neill, said another positive US payroll result on Friday could prompt a renewed rally in US equities.

Speaking to CNBC, O'Neill said two consecutive surprises on US non-farm payroll data have led investors to take a less cautious approach thus far. He said a third consecutive positive payroll number on Friday could prompt another rally for the S&P 500. "Payroll is a big, big number and if we get another policy surprise, that raises the possibility of another material rally in the S&P. That is before we get into some of the usual late spring, early summer issues, albeit the risk of rising oil prices," he said. US non-farm payrolls data increased by 210,00 last month after rising 243...