S&P to End This Year 1% Lower Amid Ukraine Crisis - Goldman

Reuters2022-03-14

March 14 (Reuters) - The S&P 500 index will end 2022 about 1% lower as commodity prices surge and the outlook for global economic growth weakens amid the conflict in Ukraine, Goldman Sachs said.

Goldman economists in a note on Friday trimmed their year-end target for the benchmark index to 4,700 from 4,900, which would have implied a nearly 3% rise in 2022. Goldman's target still implies a nearly 12% jump for the S&P from current levels.

The S&P 500 had climbed 27% last year and 16.3% in 2020.

Commodity and energy prices have skyrocketed after Russia's invasion of Ukraine last month, worsening inflationary pressures for businesses around the world.

Goldman also cut the S&P 500's 2022 earnings per share estimate to $221 from $226, and to $233 from $240 for 2023.

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Comments

  • PearlynCSY
    2022-03-15
    PearlynCSY
    DJIA, S&P 500 & NASDAQ hit numerous ATH last year. PE is highly elevated despite the recent correction of 10%, 12% & 20% respectively. Going forward, I'm expecting a gradual reversal to the mean due to sky high inflation rates, interest rates hike & FED tapering her bloated balance sheet, plus increased geopolitical tensions & conflicts esp US hegemony against China and Russia.
  • peterob1
    2022-03-14
    peterob1
    Up
  • szueyann
    2022-03-14
    szueyann
    Please like. Thanks. 
  • Nue
    2022-03-14
    Nue
    Cool
  • Mr. T
    2022-03-14
    Mr. T
    So many fun times 
  • Ardalth
    2022-03-14
    Ardalth
    Good analysis
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