Goldman, JPMorgan Strategists See Recession Fears as Overblown
- Market is pricing a recession, but it’s not inevitable: Kostin
- Other strategists see stock slump as only just beginning
May 17: Why Goldman Sachs Cut Its US Growth Forecasts
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Doom and gloom on the outlook for the US economy and its stock market may have gone too far, according to some top Wall Street strategists.
Goldman Sachs Group Inc.’s David J. Kostin and JPMorgan Chase & Co.’s Marko Kolanovic say investor fears of imminent recession in the US are overblown -- leaving room for an equities recovery as the year progresses, in Kolanovic’s view. The benchmark S&P 500 has slumped 18% from its January record, approaching bear market territory.