Goldman strategists are predicting that the S&P 500 finishes 2016 at 2,100; Essentially no gain for the year, but up approximately +11% from current levels. This is according to David Kostin, Goldman’s chief U.S. equity strategist.
“Despite the generally positive U.S. economic data, the sudden fall in asset prices has investors focused on the potential for a U.S. recession,” Kostin wrote. “Clients understandably point to the stock market as a cause for concern, and wonder what the market has come to know in early 2016 that they do not.”
Goldman, though, is sticking with its forecast that the S&P 500 will rebound and finish the year at 2,100, a rise of about 11 percent from current levels but basically no net gain for the full year.