Goldman Sachs downgrades stocks to neutral for the short-term
July 25 (Reuters) - Goldman Sachs downgraded its global allocation to equities to neutral on a short-term basis on Friday, even though the brokerage remains overweight stocks for the longer term, it said in a research note.
The firm said it is worried that a rise in rates will drive stocks lower over the next three months, adding that "we also expect the general pace of returns to slow compared to what we have seen in the last couple of years." (Reporting By David Gaffen, editing by Ross Colvin)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Two killed, four wounded in Washington state school shooting
- Two U.S. states to quarantine health workers returning from Ebola zones |
- NYC police say hatchet attack by Islam convert was terrorism |
- 'We won't pay,' furious Cameron tells EU over surprise bill |