Goldman Sachs strategists expect profit growth to drive further gains in the S&P 500 index
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The team led by Ben Snider stated that given current market pricing reflects economists' forecasts for "solid but below-trend" GDP growth, investors are advised to shift their focus towards long-term growth companies rather than cyclical ones. The strategists also added that, driven by continuously rising earnings expectations, U.S. stocks have reached new highs, while valuation multiples still remain below pre-conflict levels. (Bloomberg)
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