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Added on the 25/11/2015 18:37:07 - Copyright : Reuters EN
Following Wednesday's violence on Capitol Hill, Goldman Sachs has made an ask. Goldman Sachs asked small-business owners not to wear "Storm the Hill" T-shirts. The company mailed them for an unrelated event, The Wall Street Journal reported Thursday. The virtual event, planned for January 13, is to encourage small-business owners. The plan was to pressure lawmakers to pass additional COVID-19 relief for businesses. But the bank rebranded the event after pro-Trump terrorists literally stormed the hill on Wednesday.
On Friday, Goldman Sachs predicted the UK's economy will grow 7% in 2021. The growth will be led by the coronavirus vaccine rollout and a Brexit trade deal. Over half of the country's population is expected to be immunized by March. Business Insider reports there will be a significant rebound in economic activity from the second quarter of next year. New trade restrictions are likely to weigh on potential growth in the coming years. Goldman said the drag will mostly be slow to materialize. UK GDP will end the year 11.7% under its pre-pandemic level, twice as much as Germany, France, and Italy.
Goldman Sachs has cut its near-term growth forecasts for the United States. Goldman Sachs based this on spiking COVID-19 cases and slowing economic activity. US gross domestic product will grow 3.5% in the fourth quarter, down from the previous forecast of 4.5%. According to Business Insider first-quarter 2021 growth estimate was also lowered to 1% from 3.5%. Goldman Sachs said the winter drag should give way to a bigger rebound on the back of vaccine distribution.
On Thursday, lGoldman Sachs said large-cap mutual funds are on the verge of fueling a massive rally for Tesla shares. Business Insider reports that Tesla is set to join the S&P 500 on December 21 as one of its 10 most valuable members. Of the 189 large-cap core funds tracked by Goldman, 157 funds managing roughly $500 billion don't yet hold Tesla stock, the bank said. Goldman says some funds may aim to hold Tesla at benchmark weight when it joins the index. If so, Goldman said, funds will buy about $8 billion worth of shares soon after the automaker's inclusion.
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