This is the tightest part of the bear hunt on Wall Street these days.
Goldman Sachs downgraded their 2022 U.S. growth forecast (2.6% to 2.4%) and 2023 (2.2% to 1.6%) as senior leader Lloyd Blankfein warned of “extremely high” risks to the US recession.
“If I run a big company, I would be very ready for it. If I were a consumer, I would be ready for it,” he said. week end.
Further One of the most elegant banks on Wall Street went this year, Goldman lowered its 2022 S&P 500 target to 4,300. Their new core forecast does not consider any recession, but if it does, they say it could drop to 3,600.
“Although the S&P 500 companies recorded 11% EPS growth better than expected, investors have experienced an 18% bear market decline since the index peaked on January 3,” said David Costin, chief U.S. stock strategist. A note.
Their comfort gift and ours Call of the day The list of 20 stocks has ratings below the previous bear market decline.
Those companies have volume and liquidity – require a higher-than-average market cap for uncertain times – and are reserve strength, which means they are generally less sensitive to recessions because they can withstand the downturn in credit market liquidity, Costin said. Team.
According to that attractive estimate, the metric is as follows: Multiple price / earnings after the 20% haircut expected for 2023 is below the p / e ahead of the March 2009 and March 2020 bear markets or both. .
“Importantly, given the different real interest rate scenarios, raised stocks have a much more attractive value today in terms of yield gaps compared to other indices than they were in 2009 or 2020,” Gostin & Co. said.
The stocks on this list, even after a 20% reduction in 2023 EPS, will still have a 2021-2023E compound annual growth rate of 4% compared to the S&P 500 company average of 2%.
Worthless
Chatter
This is Da Svitanya for Russia for McDonald’s MCD
Fast food company announced plans Leave the country Sell its business there, and its price could be as high as $ 1.4 billion. McDonald’s wants to get jobs for its 62,000 workers.
Tesla’s DSLA
Elon Musk told Twitter’s TWTR
The legal committee has indicted him Violation of undisclosed agreement on botsFollowing his announcement on Friday that the $ 44 billion deal for the social media group has been put on hold.
Severe govt locks triggered the collapse Retail and industrial production in ChinaDeutsche Bank points out that both data are very weak after March 2020.
This is a big week for retailer decisions with Walmart WMT
(See Preview), Home Depot HD
And target TGT
On the pipe. Take-to-Interactive TTWO
The results will be announced after the close on Monday.
The Empire State Manufacturing Index for May is ahead. The other big data of the week is the Tuesday release of retail for the month of April.
Markets
Worthless
US stock futures ES00
YM00
NQ00
After that China’s data fell, oil prices CL00
BRN00
Are below, while Treasury BX: TMUBMUSD10Y earns
BX: TMUBMUSD02Y
From flat to weak. Dollar DXY
And Gold GC00
Will be less, and bitcoin BTCUSD
Is weak, trading below $ 30,000 with most cryptocurrencies under normal pressure.
Step: Crypto Investor Barry Silbert offers sympathy and advice to those who lost their fortunes last week
Tickers
As of 6 a.m. Eastern time, the most searched tickers on MarketWatch are:
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Goldman Sachs’ senior bankers have been informed Take all the vacations they want
Famous Thailand Beach Cove by Leonardo DiCaprio Reopening. But you can not visit at any time.
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