You may have seen Adam's question on Monday:
Adam was citing GS' slashing their crude oil price forecast, as posted while you may have been partying on Sunday evening (I'm all for partying on Sunday evening BTW, but don't forget to check in on us at ForexLive for all the news from the Asian timezone where Monday markets are up and running):
- Goldman Sachs slashed its December Brent forecast to $86 /bbl (from previous estimate $95)
- More on Goldman Sachs slashing its December Brent oil forecast to $86 from $95
I have the same question, is this Goldman Sachs' doing, which be asked about the up move for US equities on Monday. On Friday a GS analyst bumped up the year-end price target for the benchmark S&P 500 to 4,500 from its prior view of 4,000.
Citing:
- a broadening of the year-to-date rally that has been led by only a few mega cap stocks
- 2023 earnings per share forecast for the S&P 500 of $224 remains unchanged
- assumes a soft landing for the U.S. economy
- "combination of slowing inflation, healthy growth and elevated market concentration indicated the current multiple may persist."
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ps. This is at odds with Morgan Stanley:
