Goldman Sachs Sees Broader Global Stock Rally in Second Half on Tech Earnings
Summary
- Goldman Sachs said the global stock-market rally will continue in the second half of this year.
- Peter Oppenheimer said the market’s advance will continue if corporate earnings remain solid and growth spreads across a broader range of sectors.
- He said the technology sector, especially semiconductor and equipment makers, will be a key driver of the market in the second half.
Forecast Trend Report by Period
Goldman Sachs expects the global stock-market rally to continue in the second half of this year, with earnings growth at technology companies providing a key tailwind.
Peter Oppenheimer, the bank’s chief global equity strategist, said on July 1 that stocks can keep advancing in the second half as long as corporate earnings remain solid and growth broadens across more sectors, according to Odaily and other outlets.
The gains may not be as strong as they were in the first half, he said, but the rally should become more broad-based.
Oppenheimer also expects earnings growth in the technology sector to continue. Investor focus, however, could shift from data-center and cloud-platform operators to semiconductor and equipment makers that support the artificial intelligence boom.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul