Stock market is worsening. Lets go Brandon!

Everett WA

Description

I wonder what the guy that was giving Joe Biden is thinking now. He gave Biden high praises and said the stock market rise was all Joe Biden's doing. I have been watching the S&P spiraling downward since November. Now that Russia has invaded Ukraine it is going to get even more worse. Joe Biden was asked what he was going to do about the high cost of fuel and his answer was he can't do much about it. That sent stocks crashing. Apparently he is not going to up the production of oil in the U.S. Why is anybody's guess. The S&P 500 Index will end 2022 about 1% lower as commodity prices surge and the outlook for global economic growth weakens amid the conflict in Ukraine, Goldman Sachs said. Goldman economists in a note on Friday trimmed their year-end target for the benchmark index to 4,700 from 4,900, which would have implied a nearly 3% rise in 2022. Goldman's target still implies a nearly 12% jump for the S&P from current levels. The S&P 500 had climbed 27% last year and 16.3% in 2020. Commodity and energy prices have skyrocketed after Russia's invasion of Ukraine last month, worsening inflationary pressures for businesses around the world. Goldman also cut the S&P 500's 2022 earnings per share estimate to $221 from $226, and to $233 from $240 for 2023.