Valuation – Russell 2000 vs. S&P 500

Valuation – Russell 2000 vs. S&P 500 The price to book ratio suggests that the Russell 2000 is cheap relative to the S&P 500. Image: Morgan Stanley Research

S&P 500 vs. Gold and Fed Balance Sheet

S&P 500 vs. Gold and Fed Balance Sheet The S&P 500 priced in gold has only retraced 40% of the decline, vs. 62% in fiat money. Image: Fidelity Investments

Forecast – New Path of the S&P 500 Market in 2020

Forecast – New Path of the S&P 500 Market in 2020 Goldman Sachs has set a price target of 3000 by the end of 2020, and a new mid-year S&P 500 target of 2400. Image: Goldman Sachs Global Investment Research

S&P 500 Index vs. Reported EPS

S&P 500 Index vs. Reported EPS This chart shows the very high correlation between stock prices and earnings since 1871 (R² = 0.97) Image: Fidelity Investments

S&P 500 Index vs. Earnings per Share (EPS)

S&P 500 Index vs. Earnings per Share (EPS) Currently, the S&P 500 Index prices in a 15% decline in EPS. A decline of 33% from 2019 seems more appropriate, according to Goldman Sachs. Image: Jeroen Blokland

New Path of the S&P 500 Market in 2020

New Path of the S&P 500 Market in 2020 Goldman Sachs has set a price target of 3200 by the end of 2020, and a new mid-year S&P 500 target of 2000. Image: Goldman Sachs Global Investment Research

Path of the S&P 500 Market in 2020

Path of the S&P 500 Market in 2020 Goldman Sachs has set a price target of 3200 by the end of 2020, and a mid-year S&P 500 target of 2450 (28% below the market peak). Image: Goldman Sachs Global Investment Research

Forecast: Path of the S&P 500 in 2020

Forecast: Path of the S&P 500 in 2020 Goldman Sachs sees limited upside for the S&P 500 from current levels and set a price target of 3400 by the end of 2020. Image: Goldman Sachs

S&P 500 Forecast for 2020

S&P 500 Forecast for 2020 Goldman Sachs forecasts a price-target for the S&P 500 at 3400 by year-end 2020, and a downside scenario at 2600 depending on tariffs and the US election result. Image: Goldman Sachs