Macro at a Glance

Goldman Sachs has raised its 2026 S&P 500 price target to 8000 despite global GDP growth slowing to 2.4% due to energy supply disruptions from the Iran war. The firm expects cooling inflation to be offset by higher oil prices, leading to a complex policy environment for the Fed and ECB.

Key Takeaways

• 1.Goldman Sachs has significantly raised its year-end 2026 S&P 500 price target to 8000 following strong Q1 earnings.
• 2.The Iran war remains a critical macro risk, threatening global energy supply through the Strait of Hormuz and weighing on global GDP growth.
• 3.Global real GDP growth is expected to slow to 2.4% in 2026 due to higher energy price headwinds.

Table of Contents

• Watching
• Growth
• Forecasts
• More from TOP of MIND
• Disclosure Appendix
• Global product; distributing entities
• General disclosures

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