Economics
Goldman Sachs Says Trump Win Doesn’t Mean Too Much for S&P 500
- David Kostin sees the benchmark index slipping about 2%
- Tom Lee of Fundstrat Global Advisors sees the market rallying
How Did Investors Hedge Ahead of the Election?
This article is for subscribers only.
As markets digest Donald Trump’s victory, one prominent Wall Street prognosticator is keeping his year-end S&P 500 Index target unchanged.
David Kostin, chief U.S. equity strategist at Goldman Sachs Group Inc., sees the benchmark gauge ending 2016 at 2,100, about 60 points below its level as of 2:20 p.m. in New York. His forecast, tied for second most-bearish in a Bloomberg strategist survey, envisions limited fallout from a Trump presidency and says stocks are likely to resume their ascent in coming years.