S&P 500 Index Falls by 9% in 2023; States Goldman Sachs

• Goldman Sachs released the “2023 Outlooks” predicting the state of the US economy in 2023.
• The company strategist proclaimed that the S&P 500 Index would fall by 9% in the next three months. 
• The strategist also mentioned that the possibilities of economic growth are comparatively less.

Goldman Sachs,  the American Multinational Investment Bank, and Financial Services Company, released predictions on the US stock market, claiming that the S&P 500 Index would have a fall by almost 9% in the next three months, “before rebounding after the Federal Reserve’s tightening cycle ends in May”.

Recently, Goldman Sachs released the “2023 Outlooks” to provide insight into the next year’s “economic growth, unemployment, interest rates, and more” through the estimations of the company’s economists and strategists.

Notably, the outlook included the estimations on the US stocks, bear markets, recessions, etc. Also, the company has assured the public to provide predictions over a wider area in the upcoming days.

Among the first articles was a penetration into the US Stock in 2023, claiming that there would be “less pain but no gain in 2023”. According to Goldman Sachs Research, S&P 500 Index had a 17% decline this year, it had been estimated that there would be no growth but only flat returns in the et year.

David Kostin, the Chief US Equity Strategist proclaimed that “zero earnings growth will drive zero appreciation in the stock market”.

To be noted, S&P 500, or the Standard and Poor’s 500, is the stock market index that marks the stock performance of 500 top listed companies in the stock exchanges in the United States. The strategists of Goldman Sachs stated that S&P Index would fall by 9% in the next three months.

Further, the strategists stated that though the revenue of the top firms might rise slightly to about 4%, proportional to the GDP growth, the margins are likely to shrink, with lesser possibilities in earnings growth.

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