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Goldman Sees No More Gains For S&P By Year-End, Flags Biggest Margin ‘Collapse’ In Half-Century
"This week the S&P 500 rallied above our year-end 2020 target of 3,000", Goldman's David Kostin writes, in a note dated Friday evening.
"The current index level implies an optimistic path of normalization", he adds, somewhat dryly.
It sure does. The benchmark has risen 3% or more in three of the last four weeks, despite a laundry list of concerns, not least of which are spiraling Sino-US tensions, still dour data, the prospect of a second virus wave and, now, a wave of protests against rac
Betting markets? Cute. I will take the opposite side of each one of those bets. Be prepared for Democrat wipe-out. With Sleepy Joe Biden leading their way into irrelevance.
Let’s not parrot Donald Trump’s Twitter account in the comments of this site. This is a serious website dedicated to serious macro and market analysis. If you want to make an intelligent argument about the issues or about how the election will or won’t affect asset prices and corporate tax rates, I welcome that, but comments aimed solely at perpetuating juvenile memes (“Sleepy”, etc.) aren’t relevant to the discussion in this post (at all). If your sole intention is to incite contentiousness, I would note that there are plenty of sites out there where that is encouraged. This isn’t one of them. Again, this is a serious portal, for serious investors. Commenters are expected to treat it as such.
Great response, that’s why I like your website.
Keep up the good work H ðŸ‘
awesome response.
Does it strike anyone that there is a coterie of strategists who were sure the rally was unsustainable that the March lows would be retested are losing faith in those ideas. Instead there seems to be an acceptance that the rally now has sustainable fundamentals such as positive liquidity backdrrop, better virus news, and a thought that the China-US conflagration is not going to boil over to the extent that it roils market. Does it not add up to a dangerous amount of complacency?