Goldman Cuts S&P 500 Year-End Target to 4,900 on Rate Outlook
- Strategists lower their forecast for U.S. benchmark’s returns
- Team calls macro backdrop ‘considerably more challenging’
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Goldman Sachs Group Inc. strategists lowered their forecast for U.S. stock returns this year as the prospect of more aggressive monetary tightening weighs on valuations.
The strategists cut their year-end target for the S&P 500 benchmark index to 4,900 points, down from 5,100 points previously. It compares with Friday’s close of 4,418.64.