Goldman’s Oppenheimer Sees U.S. Stock Rally Running Out of Steam
- Strategist says there’s little upside now in the shorter term
- UBS Global Wealth Management team also shares cautious view
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The rebound in equities may not have much further to go, strategists at Goldman Sachs Group Inc. and UBS Global Wealth Management warned on Thursday, as markets in Europe and the U.S. are set to end their first month in the green for this year.
“To be clear, we see little upside now in the shorter term,” Goldman Sachs strategists led by Peter Oppenheimer wrote in a note. Mark Haefele, chief investment officer at UBS GWM, concurred, saying “our base case now is for only modest upside for stocks.”