Goldman Sachs Just Made A Slash On Their Outlook For The S&P 500
Goldman Sachs analysts slashed their outlook for the S&P 500 earnings, all the way until 2018.
For 2016 the firm now sees earnings per share climbing 5% to $105, for 2017 they see them climbing 10% to $116, and for 2018 earnings are expected to climb 5% to $122.
Previously analysts had estimated $110 for 2017, $123 for 2017, and $130 for 2018.
According to analysts, the cut is based on disappointing earnings growth from the financials and information technology sectors.
They also blame the impact of low interest rates on telecom sector pension liabilities.
Analysts are expecting the S&P 500 to end the year at 2,100.