GS · News · 20261104N

Capital Markets Cycle Outlook

GOLDMAN SACHS GROUP INC · 2026-11-04 · Importance 32 · Surprise 48 · In source text

Goldman Sachs Research projects S&P 500 earnings growth will slow from 29% in 2026 to 18% in 2027. Despite the deceleration, it views the forecast as consistent with continued market returns. The report notes that recent S&P 500 and Nasdaq-100 declines have been driven by concerns about AI spending, while earnings growth remains broad across S&P 500 sectors.

Key facts

• Goldman Sachs Research predicts S&P 500 earnings growth will slow from 29% in 2026 to 18% in 2027. source
• GS Finance Corp., guaranteed by Goldman Sachs Group Inc., is offering $137,000 in notes due 2033 linked to the Autocallable S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. source
• On October 27, 2026, Goldman Sachs held 566,115 Ontex voting rights and 1,965,157 equivalent financial instruments, 2,531,272 combined, representing 0.69%, 2.39% and 3.07% of Ontex's issued shares, respectively; the combined holding crossed upward the 3% threshold. source
• Goldman Sachs briefly held more than 3% of Ontex Group NV shares on October 27, 2026, and fell below the threshold on October 28, 2026. source
• Goldman Sachs shares returned -0.1% over the past month, versus -2% for the Zacks S&P 500 composite and -2.2% for the Zacks Financial - Investment Bank industry. source
• Goldman Sachs Group Inc. stock rose 3.42% on November 4, driven by a relief rally in U.S. equity markets following political clarity and strong Q3 financial results that surpassed estimates. source

Impact estimates