What's Top of Mind in Macro Research

Goldman Sachs raised its year-end S&P 500 target to 8000, citing AI-driven earnings growth. Meanwhile, the Iran conflict continues to drive global inflation and depress consumer sentiment.

Key Takeaways

• 1.Goldman Sachs has raised its year-end S&P 500 target to 8000, driven by higher EPS forecasts for 2026/2027 and the AI investment boom.
• 2.The ongoing Iran conflict is generating global inflationary pressures and weighing on growth, particularly impacting energy flows through the Strait of Hormuz.
• 3.US consumer sentiment has hit record lows despite resilient household balance sheets, primarily due to inflation concerns following the Iran conflict.

Table of Contents

• Even more equity upside
• Ongoing Iran conflict, ongoing impacts
• What else is on our radar?
• Relevant research
• Macro at a glance
• Disclosure Appendix

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