Published on 29 Nov 2022 on Insider Monkey via Yahoo Finance
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As per Goldman Sachs, the stock market will experience relatively less pain next year compared to 2022 but there will be no gains, as enterprises post slow earnings growth through the rest of 2023. Assuming the Federal Reserve can manage a soft landing, Wall Street analysts forecast that earnings per share in the S&P 500 would be flat at $224 in 2023, and the index would drop by 2% to 3,900 over the next six months. However, a hard economic landing is entirely possible, with analysts expecting that earnings per share would decline 11% to $200 in that scenario, and the S&P 500 would plummet 21% to 3150.
In an economic backdrop consisting of slow growth, reduced inflation, and new monetary policies, Morgan Stanley predicts that 2023 will bring upside for bonds, defensive equities, and emerging markets. Andrew Sheets, Chief Cross-Asset Strategist for Morgan Stanley Research, said on November 22: