Goldman Sachs has a few reasons why the bull market has further to go: 1. We're in a “hope” phase of a new investment cycle following a deep recession 2. Vaccine = durable economic recovery 3. Economists revising up forecasts
It may be a good thing that the week will be short for U.S. investors, as post-Labor Day trade points to a rough ride for technology stocks, with some worried last week’s mini-meltdown is the start of something bigger.
Alas, there are risks to this bullish thesis. Oppenheimer says stocks could fall if the rapid rebound economy markets have priced in, starts to falter. “In this case, we see room for a correction of perhaps up to 10% as investors re-access the path of growth over the next several months.”The Nasdaq Composite COMP, -3.08%, S&P 500 SPX, -2.23% and Dow industrials DJIA, -1.88% are sliding, with European stocks SXXP, -1.07% dragged south too. Oil CL.1, -8.
Tech giant Alphabet’s Google GOOGL unit has ditched plans to rent office space for 2,000 workers in Dublin, Ireland.
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