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Goldman Sachs: The stock market's biggest driver will plunge 123% in a brutal 2nd quarter

1 month ago   |   By Business Insider

Profit growth for S&P 500 companies is set to slip 33% in 2020 as the coronavirus lockdown halts revenue streams, Goldman Sachs said.
Earnings-per-share growth is historically stocks' biggest upward driver, and the metric will slide by 123% on a year-over-year basis in the second quarter amid the strictest nationwide containment efforts.
Declines across the energy, consumer discretionary, and industrial sectors will weigh on the broad index, while tech, healthcare, and utilities companies are the best positioned amid the economic turmoil, the team wrote in a note to clients.
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Goldman Sachs: The stock market's biggest driver will plunge 123% in a brutal 2nd quarter

Goldman Sachs: The stock market's biggest driver will plunge 123% in a brutal 2nd quarter

1 month ago   |   By Business Insider

Profit growth for S&P 500 companies is set to slip 33% in 2020 as the coronavirus lockdown halts revenue streams, Goldman Sachs said.
Earnings-per-share growth is historically stocks' biggest upward driver, and the metric will slide by 123% in the second quarter amid the strictest nationwide containment efforts.
Declines across the energy, consumer discretionary, and industrial sectors will weigh on the broad index, while tech, healthcare, and utilities companies are the best positioned amid the economic turmoil, the team wrote in a note to clients.
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