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Goldman says sell the S&P 500

The SP 500, which was already down 1%, dropped even further as Goldman’s report bounced around email inboxes.

Goldman’s analysts said they could see the SP 500 drop to 1,285, roughly 5% below its current levels. Heading into the close, the broad index was down more than 2% at 1,326.

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Goldman Sachs’ (GS) analysts told investors to sell the SP 500 (SPX) Thursday and boy did they ever.

The SP 500, which was already down 1%, dropped even further as Goldman’s report bounced around email inboxes.

Goldman’s analysts said they could see the SP 500 drop to 1,285, roughly 5% below its current levels. Heading into the close, the broad index was down more than 2% at 1,326.

Analysts Noah Weisberger and Aleksandar Timcenko cited the sharp drop in the Philly Fed index Thursday as just another piece of evidence that the ephemeral recovery has lost steam.

“We now think, with incremental U.S. monetary policy on hold, the market will need to confront a deteriorating growth picture near term,” the analysts said.

Still they did add a few caveats. The SP could pop or at least stay flat if the U.S. or Chinese economies start revving up or if European policy makers talk a big game about propping up the market.

Article Source: http://rss.cnn.com/~r/rss/money_markets/~3/0T_iHu__Lxs/

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Markets

Thai Mango growers complain of low prices and fewer exports

Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.

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Investment

Foreigners’ Participation in Thai Listed Companies explained

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Similar to foreign business laws existing in most Asian countries, Thai laws have imposed restrictions on foreign ownership of Thai companies.

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