''A Hard Landing Scenario Is Inevitable'': Goldman Sachs Cuts SP500 Targets As Investors Flock Into Cash
Goldman Sachs (NYSE: GS ) is reducing its valuation projection for the SP 500 as rising interest rates signal bad times for stock prices. Investors are reacting by shunning most asset classes and going into cash as a way to weather the storm. ‘A hard landing scenario is inevitable’: Goldman Sachs Chief U.S. Equity Strategist David J. Kostin posted a target valuation for the index at 3600 by the end of the year, maintaining that valuation in six months, and reaching 4000 within one year. The index got closer to its 2022 lows this week, with fears of recession becoming more substantiated. The Dow Jones also marked its lowest level of the year on Friday, with other major indexes showing losses as well. Goldman Sachs changed its projections for the market gauge, as interest rates are expected to continue to climb. Goldman had already dropped its year-end price target for the SP 500 from 4700 to 4300 in … Full story available on Benzinga.com
''A Hard Landing Scenario Is Inevitable'': Goldman Sachs Cuts SP500 Targets As Investors Flock Into Cash
Goldman Sachs (NYSE: GS ) is reducing its valuation projection for the SP 500 as rising interest rates signal bad times for stock prices. Investors are reacting by shunning most asset classes and going into cash as a way to weather the storm. ‘A hard landing scenario is inevitable’: Goldman Sachs Chief U.S. Equity Strategist David J. Kostin posted a target valuation for the index at 3600 by the end of the year, maintaining that valuation in six months, and reaching 4000 within one year. The index got closer to its 2022 lows this week, with fears of recession becoming more substantiated. The Dow Jones also marked its lowest level of the year on Friday, with other major indexes showing losses as well. Goldman Sachs changed its projections for the market gauge, as interest rates are expected to continue to climb. Goldman had already dropped its year-end price target for the SP 500 from 4700 to 4300 in … Full story available on Benzinga.com