The recent sharp drawdown in stocks presents a buying opportunity for those stocks that are positioned to withstand a double whammy of higher interest rates and an economic slowdown, according to Goldman Sachs. "Although we expect headwinds to discount rates and balance sheets to persist, we would view a substantial further downgrade to the growth outlook as a buying opportunity," David Kostin, Goldman's chief U.S. equity strategist, said in a note to clients.
The firm's economists forecast real GDP growth slows to 2% in 2024, better than an average forecast of 1% on Wall Street. Therefore, Goldman believes that many cyclical stocks, or those with a high sensitivity to the economy, shouldn't suffer. In fact, the firm is recommending certain of them that have underperformed the rest of the market yet offer strong fundamentals.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Stock Market Today: Stocks higher as bond markets lay tame into huge week on Wall StreetA Fed rate decision, a big week of earnings and a new Treasury borrowing statement will keep stock markets busy and test the return of global risk appetite.
Fonte: startelegram - 🏆 248. / 63 Consulte Mais informação »
Wall Street’s ‘Hell Week’ with Fed, earnings, jobs data and Treasury funding on deckWall Street will need to pass a series of stern tests this week if it wants to keep hopes of an end-of-year rally alive.
Fonte: startelegram - 🏆 248. / 63 Consulte Mais informação »
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »
Fonte: FoxBusiness - 🏆 458. / 53 Consulte Mais informação »
Fonte: NBCLA - 🏆 319. / 59 Consulte Mais informação »