JPMorgan, at Odds With Goldman, Sees Solid Run Ahead for Stocks
- Firms differ over the long-term outlook for US equity returns
- Corporations are ‘very good at growing margins:’ JPM’s Kelly
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Strategists at two of Wall Street’s biggest banks have reached diverging conclusions about where the US stock market is heading in the years ahead.
With the S&P 500 Index hovering near record highs, strategists at Goldman Sachs Group Inc. are warning that stocks may deliver a paltry 3% annually in the coming years — restrained by an already-high starting point and elevated Treasury yields that could siphon money off into bonds and other types of assets.