The U.S. benchmark is around 17% below its February record, but the median stock trades 28% from its peak, Goldman strategists including David Kostin wrote in a note Friday.
Goldman
Goldman Says Growth Is Bigger Fed-Hike Factor Than Market Thinks
Gold Silver Reports – Investors have been underestimating the importance of U.S. economic growth for Federal Reserve policy, and giving too much relative emphasis to inflation and wage data that have tended to disappoint expectations, according to Goldman Sachs Group Inc.