Goldman Sachs says Europe's stocks have a huge 'cushion' not seen since the financial crisis | Markets Insider

While equity markets globally will probably gain in 2020, Goldman Sachs makes a case for European stocks especially.

Also, investors are"likely to become increasingly focused on US election risk, and less on risks in Europe," Goldman wrote."For much of the past decade the US has significantly outperformed other equity markets, and for good reason," Peter Oppenheimer, chief global equity strategist and head of macro research in Europe at Goldman Sachs, wrote in a note on Monday.

"While profits typically tend to rebound sharply in the year following a strong valuation expansion, this is not our expectation for this year and next," he wrote."So long as the economic cycle continues to expand – and we expect it to – profits are likely to grow and equities should make some progress on balance through 2020 as a whole.

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