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Goldman Slashes S&P 500 Forecast, Calling for End to Bull Market
David Kostin just made a bold call: The 11-year-old bull market in U.S. stocks is about to become history.
The chief strategist for U.S. equities at Goldman Sachs Group Inc. cut his year-end forecast for the S&P 500 while trimming his profit estimates for a second time in a month. Earnings will drop at least 12% in each of the next two quarters as plunging oil prices and the spread of the coronavirus hurt businesses, he said.
With profits poised to collapse and sentiment to worsen, Kostin now expects the benchmark index to drop to 2,450 by the middle of 2020. That represents a 15% decline from the last close and a 28% slump from its February peak, a loss that if materialized would mean equities enter a bear market.
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https://www.bloomberg.com/news/articles/...ull-market
![[Bild: -1x-1.png]](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iovN.kgUB9SI/v0/-1x-1.png)
David Kostin just made a bold call: The 11-year-old bull market in U.S. stocks is about to become history.
The chief strategist for U.S. equities at Goldman Sachs Group Inc. cut his year-end forecast for the S&P 500 while trimming his profit estimates for a second time in a month. Earnings will drop at least 12% in each of the next two quarters as plunging oil prices and the spread of the coronavirus hurt businesses, he said.
With profits poised to collapse and sentiment to worsen, Kostin now expects the benchmark index to drop to 2,450 by the middle of 2020. That represents a 15% decline from the last close and a 28% slump from its February peak, a loss that if materialized would mean equities enter a bear market.
....
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https://www.bloomberg.com/news/articles/...ull-market
