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Goldman Sachs: Trump Will Spur Massive Rally In Nearly All Sectors

Wednesday, November 30, 2016 9:17
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The post-Trump euphoria just keeps growing and growing on Wall Street, with Goldman Sachs today publishing findings from a survey of analysts indicating near universal bullishness across almost all stock sectors.

The just-published Goldman Sachs Group Inc. Analyst Index is used to take the temperature of various analysts’ growth expectations for different sectors within the S&P 500. This month, Goldman included a question about Trump in there, and the results were remarkably bullish. From Bloomberg:

“This month, we asked analysts to comment on how the results of the U.S. election will affect companies in their respective sectors,” the team led by Avisha Thakkar writes in the new note. “While their responses suggest that there is still uncertainty about the sector-level impact, the majority of sectors are anticipating favorable effects,” they say, adding that expectations of lower tax rates and economic stimulus are among key reasons for the favorable outlook.


The few concerns unveiled by the survey centered on “potentially more restrictive trade policy, notably for clean energy and agricultural industries, and higher inflationary pressures,” the report noted.

While shorter-term sentiment remains incredibly bullish, as the time horizon expands, Goldman expects the Trump rally to fade in the second half of 2017. In a separate note, the firm sees a big rally to start next year, but then most of those gains to be erased as 2017 draws to a close.

The SPDR S&P 500 ETF Trust (NYSE:SPY) rose $0.32 (+0.15%) to $221.24 per share in Wednesday morning trading. Year-to-date, the largest exchange traded fund tied to the benchmark S&P 500 index has gained 8.52%.


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