Goldman Sachs Forecasts New High for S&P 500 This Week, May Intensify Fear of Missing Out
Publication Time:2024-08-27 03:21:08
The global financial giant, Goldman Sachs, has predicted that the S&P 500 index will reach a new peak this week, potentially exacerbating the Fear of Missing Out (FOMO). The prediction is based on robust inflows of capital into corporate buybacks and systematic investment strategies. Scott Rubner, Director of Strategy and Tactical Specialist at Goldman Sachs' Global Markets, noted that non-emotional demand is up to around $17 billion per day. From September 1 to September 16, there was a highly favorable window for market activity over a three-week period. Additionally, Goldman Sachs found through simulations that commodity trading advisors (CTAs) could make significant stock purchases in the upcoming week, irrespective of market volatility. In the previous week, Goldman Sachs' corporate buyback department experienced its highest demand of the year, nearly twice what it was during the same period last year. It is anticipated that buying pressure will persist until the quarter's quiet period commences on September 13.
S&P 500 Index
Goldman Sachs
FOMO
new high
corporate buybacks
Fear of Missing Out