Goldman Says Signs Are Here of Belt-Tightening Impact to Profits

Goldman still expects the S&P 500 to end the year at 4,300, compared with a median 4,650 among strategist targets compiled by Bloomberg as of mid-June. The gauge closed on Friday at 3,911.74. It’s down about 18% so far this year, struggling with factors such as Federal Reserve rate hikes and stubbornly high inflation.

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