The bear market of stocks is just beginning-Goldman Sachs
2022.11.21 04:32
The bear market of stocks is just beginning-Goldman Sachs
Budrigannews.com – Goldman-Sachs (NYSE:) has warned that the global equity bear market is not over. The market has yet to see the momentum of declining valuations to reflect weaker global growth, higher interest rates and a possible recession.
Wall Street Investment Bank Says Yields Hold 6% Through End Of 2023 As Investors Focus On Pace Of Monetary Policy Tightening And Its Consequent Impact On Growth And Earnings
Goldman-Sachs said, “We continue to believe that the short-term path for the stock market is likely to be volatile and downside before hitting a final low in 2023.”
He expects it to be around the 4,000 point level by the end of 2023, suggesting an increase of less than 1% from current levels as no earnings growth is seen.
Goldman expects pan-European index component earnings to fall 8% next year, with Japan and MSCI Asia-Pacific ex-Japan index companies forecasting earnings growth of 3%.
Investment banks expect investors to open trading on bull market expectations next year.
“We expect the market to move into the ‘hope’ stage of the next bull market sometime in 2023, but from lower levels.”
