Goldman Sachs Predicts Stable Trading in Stock Market for Remainder of 2024

A stock trader busy at the New York Stock Exchange on February 24, 2020. Image credit: Johannes Eiselle/Getty Images

According to Goldman Sachs chief US equity strategist David Kostin, the S&P 500 may remain‍ stagnant for the remainder of⁤ the year.

He mentioned in an interview with Bloomberg TV that the index has already‌ hit Goldman’s year-end target of 5,200.

Despite the possibility of rate ⁢cuts altering the ⁤scenario, the firm’s indicators ⁤do ⁢not indicate significant upside potential from current levels.

The stock market rally for ⁢2024 has reached⁤ its peak, with the S&P 500 surpassing Goldman Sachs’ year-end forecast, as stated by‍ the firm’s chief US equity strategist David Kostin.

During his conversation with Bloomberg TV, he emphasized that there is no economic, valuation, or earnings rationale for further growth, and highlighted that money-flow models also suggest that additional gains will be limited. The S&P 500 exceeded Goldman’s year-end target of 5,200 earlier this month.

This essentially implies “a flat return from ‌now until‌ the‍ end of the year,” Kostin remarked, while also hinting at the‍ potential for a shift in the situation…

2024-05-15 21:04:48
Originally published on‌ finance.yahoo.com