Goldman Sachs Bets Big: No More Rate Hikes In 2023, Wave Of Cuts In 2024
Portfolio Pulse from Piero Cingari
Goldman Sachs predicts no further Federal Reserve interest rate hikes in 2023 and anticipates a wave of cuts in 2024. The firm believes that the economic momentum remains strong, with Q3 GDP growth tracking at 3.3%, and that the labor market and inflation are balanced. Goldman Sachs also forecasts a 5.6% increase in the S&P 500 Index, represented by the SPDR S&P 500 ETF Trust (NYSE:SPY), and an 11.7% rise in the iShares Emerging Markets Index Fund (NYSE:EEM) over the next 12 months.
September 18, 2023 | 2:16 pm
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NEUTRAL IMPACT
Goldman Sachs' prediction against further rate hikes and for cuts in 2024 could influence investor sentiment towards the firm.
As Goldman Sachs is making the prediction, this news is highly relevant to the firm. However, the impact on its stock price is uncertain as it depends on whether investors agree with their analysis.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs forecasts an 11.7% rise in the iShares Emerging Markets Index Fund (EEM) over the next 12 months.
Goldman Sachs' positive forecast for EEM could lead to increased investor interest in the ETF, potentially driving its price up.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs forecasts a 5.6% increase in the SPDR S&P 500 ETF Trust (SPY) over the next 12 months.
Goldman Sachs' positive forecast for SPY could lead to increased investor interest in the ETF, potentially driving its price up.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100