Goldman Sachs is becoming less optimistic about the world economy — and it’s not just because of fears over new restrictions
Goldman Sachs has prided itself on its bullish stance on the global economy, with its above-consensus takes doing better than many of its banking rivals to forecast just how resilient consumers and businesses have been.
“The share of Americans reporting to ‘always avoid’ high-contact activities has decreased, but remains substantial at around 50% for public transportation and large events, and 30% for travel,” they said, citing YouGov data. “A further recovery will require not only rising vaccinations and related medical improvements, but also time for individuals to become more comfortable.”And the U.S.
The earnings slate for Friday includes oil producers Exxon Mobil XOM, +1.22% and Chevron CVX, +1.37%, as well as machinery maker Caterpillar CAT, +0.53%. Chevon topped earnings estimate as it said it’ll resume a stock buyback program, while Caterpillar shares traded lower after it topped earnings estimates.
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