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  1. Goldman Sachs16 min

    Energy Disruptions Are Here to Stay

    Adam Crook, Jerome Dortmans

    Amid escalating geopolitical tensions in the Middle East and Russia, the oil market has stabilized around $80–$85 for Q3 as investors focus on fundamental product deficits rather than headline volatility. While crude supply shocks have been partially mitigated by Russian export growth and strategic stockpiles, severe tightness in diesel and heating oil inventories threatens to sustain elevated prices through winter. Market analysts project a potential price dip to the $70s in Q4 if diplomatic progress occurs, though a significant supply response is unlikely before 2027 due to the long timeline required to rebuild global inventories.

  2. Goldman Sachs19 min

    Innovation and Inflation: Twin Forces Reshaping Portfolios

    Christian Mueller-Glissmann, Alexandra Wilson-Elizondo, Alison Nathan

    Recorded on May 7, 2026, this market analysis addresses the 2026 stagflationary dynamic where traditional 60/40 portfolios fail to buffer against rising rates while the S&P 500 rallies on heavy technology concentration. Experts identify tactical opportunities in infrastructure and commodity carry strategies to mitigate momentum risks, though they warn that a potential labor market feedback loop or 30-year yield breakout could impose severe constraints on equity valuations. The discussion concludes by evaluating the low-probability risk of an AI positioning unwind alongside structural shifts in private credit leverage.

  3. Goldman Sachs12 min

    “A Massive Broadening Trade”

    Rich Privorotsky, Chris Hussey

    Global markets are pivoting from a narrative of fading geopolitical risk to one dominated by Japanese bond volatility and a surging "real asset" rally driven by central bank diversification and inflation expectations. While U.S. mega-cap tech faces valuation compression due to AI investment concerns, capital is rotating aggressively into emerging markets and cyclical sectors like Greek banks to capitalize on a broader pro-growth strategy. As investors await critical tech earnings and Federal Reserve leadership nominations, the primary market risk remains a potential shift from rate cut expectations to aggressive hikes should U.S. labor data stabilize.

  4. Goldman Sachs7 min

    Still Bullish on Big Tech

    Peter Callahan, Mike Washington

    In the second quarter, major technology companies surpassed market expectations by accelerating growth in e-commerce, cloud, and digital advertising, driven primarily by widespread artificial intelligence adoption. This momentum has coincided with rising capital expenditures on AI infrastructure, while analysts project a multi-year expansion cycle that remains resilient despite macroeconomic uncertainties regarding interest rates and tariffs. Although the current market rally is heavily concentrated in large-cap stocks, investors anticipate a potential catch-up trade in smaller-cap tech firms later in the year as inflation data and the Jackson Hole symposium provide new catalysts.

  5. Goldman Sachs19 min

    Equity risks and alts opportunities

    David Kostin, Padi Raphael, Allison Nathan

    The Professional Investor Forum gathered advisors managing $1.3 trillion to analyze a U.S. market recovering to pre-tariff levels despite a 50% recession probability, as first-quarter earnings beat expectations by 12% before new April policy shifts. Goldman Sachs forecasts a recession-free 2025 baseline, though participants anticipate earnings compression in the second quarter if tariffs are implemented. Consequently, investment strategies are pivoting toward private market allocations and equal-weighted indices to mitigate concentrated stock risk while managing capital flows repatriated from Europe and steady inflows from Asia.

  6. Goldman Sachs19 min

    Why China’s economy is struggling

    Hui Shan, Alison Nathan

    Goldman Sachs has lowered its 2024 China GDP growth forecast to 4.7% below the official 5% target, citing persistent oversupply in the property sector and weak consumer demand. While the government retains fiscal capacity to expand central debt to 110–120% of GDP, current strategy focuses on stabilizing homeowners rather than rescuing developers due to fears of asset bubbles. The report warns that a potential 60% U.S. tariff could further suppress growth by 2 percentage points, likely forcing a shift to aggressive stimulus if domestic resilience fails.

  7. Goldman Sachs6 min

    10,000 Small Businesses: Miami Graduation Highlights

    Sandra Williams, Leticia Pollock, Lloyd Blankfein

    The Miami Dade College chapter of the Goldman Sachs 10,000 Small Business program has graduated over 70 entrepreneurs who collectively generate $55 million in annual revenue and employ more than 1,000 people. Success stories from alumni like QQ Research Consultants and Panther Coffee illustrate how participants achieve aggressive growth targets and expansion plans while maintaining full-time operations through rigorous night and weekend study. Chairman Lloyd Blankfein highlights the initiative's role in revitalizing struggling communities by empowering owners to realize their life dreams rather than focusing solely on monetary accumulation.