Markets

Stocks could stumble in early 2021 as investor sentiment surges past market fundamentals, Goldman Sachs says

Goldman Sachs’ Sentiment Indicator — which measures how far stock prices are outpacing fundamentals — climbed to two standard deviations above its average on Friday, signalling heightened risk of near-term market weakness. Rising COVID-19 hospitalizations and weak economic data add to the odds of “a modest positioning driven pullback in […]
Stocks could stumble in early 2021 as investor sentiment surges past market fundamentals, Goldman Sachs says
Markets

The stock market’s near-term fate could be decided by the tight Senate race as stimulus remains in limbo, Morgan Stanley says

With polls increasingly signalling a Biden victory, investors should shift their focus to Senate races, Morgan Stanley said Wednesday. Senate election outcomes “will mean the difference between substantial fiscal expansion and fiscal gridlock,” strategists led by Michael Zezas wrote in a note to clients. Treasurys and West Texas Intermediate crude […]
The stock market’s near-term fate could be decided by the tight Senate race as stimulus remains in limbo, Morgan Stanley says
Markets

Wall Street’s biggest banks are increasingly expecting a Biden-led blue wave as the election looms. Here’s how they say you should position your portfolio.

As Democratic presidential nominee Joe Biden’s lead in the polls widens, Wall Street is warming to the prospect of a Democratic sweep in November. Goldman Sachs and UBS recently advised clients to prepare for a shift to cyclical and value stocks from growth favourites, as a Biden victory increases the […]
Wall Street’s biggest banks are increasingly expecting a Biden-led blue wave as the election looms. Here’s how they say you should position your portfolio.