Goldman Strategists Lift S&P 500 Forecast a Month After Setting It
- Lower inflation and Fed easing to lift index to 5,100: Goldman
- Morgan Stanley’s Wilson says market sees no Fed policy error
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Just one month after setting a 2024 target for the S&P 500, Goldman Sachs Group Inc. strategists increased their forecast as the year-end rally shows no signs of abating.
The Federal Reserve’s dovish pivot last week, along with lower consumer prices, is an outcome that will allow real yields to fall while supporting stock valuations, a team led by David Kostin wrote in a note. “Equities were already pricing positive economic activity but now reflect an even more robust outlook,” they said.