Goldman Sachs is predicting what the earnings growth next year will be with their official 2023 outlook, out now. “We expect less pain but also no gain,” David Kostin, Goldman’s chief U.S. equity strategist wrote in a note Monday.
However, stocks won’t stay in a straight line all year. Instead, Kostin predicts stocks will drop at first as he expects the Federal Reserve’s tightening cycle will end in May, which will cause investors to shift their focus to growth in 2024. Subscribe to CNBC Pro to see what Goldman’s baseline forecast assumes for 2023, and if it will be a soft landing for the U.S. economy. |
