Wall Street’s fast money has a new favorite bet. Microsoft (MSFT) has replaced Amazon (AMZN) as the most popular top 10 holding among hedge funds, strategists at Goldman Sachs led by Ben Snider said in a recent note. The investment bank’s Hedge Fund Trend Monitor, which analyzes positions across 786 firms in the industry, found … Read more
Goldman Sachs has agreed to pay a $4mn penalty over US regulatory charges that the bank’s asset management division misled customers about environmental, social and governance (ESG) investments. The settlement with the Securities and Exchange Commission highlights a widening clampdown on potentially unsupported claims made by financial groups when it comes to socially-conscious investment products. … Read more
Equity strategists at Goldman Sachs GS, +0.27% point out the cost of money is no longer next to nothing. The weighted average cost of capital for U.S. companies has gone from near the lowest level in history to 6%, the highest level in a decade. The 200 basis point increase during the year is the … Read more
(Bloomberg) — Equity investors hoping for a better year in 2023 will be disappointed, according to Goldman Sachs Group Inc. strategists, who said the bear market phase is not over yet. Most Read from Bloomberg “The conditions that are typically consistent with an equity trough have not yet been reached,” strategists including Peter Oppenheimer and … Read more
The story for most of 2022 has been one of soaring inflation but with 2023 about to enter the frame, the plot appears to be taking a positive turn. The October inflation report came in much better than expected and took Wall Street by surprise. The good news, according to Goldman Sachs’ Chief Economist Jan … Read more
New York CNN — While investors, business leaders and some economic models continue to warn a recession is imminent, Wall Street’s most powerful investment bank remains cautiously optimistic. Goldman Sachs told clients on Monday it still sees a 35% chance of a US recession in the next 12 months. While that is double the normal … Read more
(Bloomberg) — Strategists at Goldman Sachs Group Inc. say a complete China reopening will drive a 20% gain in Chinese equities, citing signs that the government may be starting to prepare for a relaxation of its Covid-Zero policy after a key leadership summit. Most Read from Bloomberg An increase in flights and growing adoption of … Read more
tdub303 Broader market earnings will go nowhere next year, according to Goldman Sachs’ latest forecast. Strategist David Kostin said S&P 500 (SP500) (NYSEARCA:SPY) margins have inflected downward and as a result he is trimming the S&P EPS forecast for 2023 to 0% growth from 3%. “Following a weak 3Q earnings season in which S&P 500 … Read more
(Bloomberg) — Stocks are worth buying because they’ve fallen so far that further dramatic declines are unlikely, according to a top wealth adviser at Goldman Sachs Group Inc. Most Read from Bloomberg The odds of a recession are about 50-50, which the market has already factored into share prices and potential earnings, Sharmin Mossavar-Rahmani, Goldman’s … Read more
Goldman Sachs, MSCI, and Coin Metrics announced Nov. 3 that they have devised a digital assets classification system to increase the transparency of market movements and help market participants analyze the digital assets ecosystem. The new system is called datonomy and is available by subscription from the three companies. The new taxonomy divides digital assets … Read more