S&P To End Year 1% Down Amid Ukraine Crisis: Goldman
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2022-03-15 HKT 00:21
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Goldman economists in a note trimmed their year-end target for the benchmark index to 4,700 from 4,900, which would have implied a nearly 3 percent rise in 2022. Goldman's target still implies a nearly 12 percent jump for the S&P from current levels.
The S&P 500 climbed 27 percent last year and 16.3 percent in 2020.
Commodity and energy prices have skyrocketed in the wake of Russia's military campaign in Ukraine, worsening inflationary pressures for businesses around the world.
Goldman also cut the S&P 500's 2022 earnings per share estimate to US$221 from US$226, and to US$233 from US$240 for 2023. (Reuters)
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