Oppenheimer对媒体表示，美国股市看起来昂贵，未来的进一步上涨将是温和的。美股估值进一步扩张的可能性不大，但利润增长料将推动股市表现。Oppenheimer预计，美股的回报范围将扩大，特别是在中盘股内，因为它们的杠杆率更高，因此可以从利率下降中获益更多；此外它们也更便宜，并且经历了很大的增长。Source: Wall Street See
Strategist Peter Oppenheimer predicts that US stocks appear expensive, and any further upward movement in the future will be moderate; a large number of european stocks with exposure to china will further benefit from china's massive stimulus.
Goldman Sachs' Chief Global Equity Strategist Peter Oppenheimer expects that the valuation of US stocks is already high, and the potential for further valuation expansion lies in the equity markets of Europe and China.
Oppenheimer stated to the media that the US stock market appears expensive, and any further increase in the future will be moderate. The possibility of further expansion in US stock valuations is not high, but profit growth is expected to drive stock performance. Oppenheimer anticipates that the return range of US stocks will expand, especially in middle cap stocks as they have higher leverage, thus benefiting more from interest rate cuts; additionally, they are cheaper and have experienced significant growth.
Compared to US stocks, Oppenheimer is more bullish on the valuation expansion of European and Chinese stocks, believing that valuation expansion is more likely to occur in the stock markets of these two regions.
Oppenheimer expects that European stocks with significant exposure to China will further benefit from China's massive stimulus measures. While German stocks and stocks from other areas of Europe mainly focused on internal demand face pressure. "I think this situation might continue until - or unless - there is more proactive intervention in terms of rate cuts and any form of growth support."
In the European stock market, given the low valuations, highfree cash flowOppenheimer believes that the yield and dividend yield make United Kingdom stocks very attractive at the moment. He said: "Investors in the United Kingdom are more enthusiastic and the situation is more stable."
According to the Wall Street Journal last week, following a series of stimulus measures such as interest rate cuts and reserve requirement ratio cuts by the Chinese central bank last Thursday, European luxury stocks, which are heavily impacted by the Chinese market, surged across the board on that day. LVMH, Kering, Dior, Hermes all rose by at least 9%, Burberry rose nearly 9%, while stocks of Richemont, Swatch Group, L'Oreal, L'Oreal, L'Oreal, L'Oreal, L'Oreal, L'Oreal, Hugo Boss, and other brands increased by 7.9% to 4.78%.
Last week, the European sector where luxury goods giants are located, saw a cumulative increase of about 9.4% in the personal and household products subsector, second only to the basic resources sector, which also benefited from China's stimulus prospects, with a total weekly increase of about 10.8%. Auto stocks, which are significantly influenced by the Chinese market, also rose, with the autos and components sector seeing a cumulative increase of nearly 6.1% for the week. Meanwhile, in the s&p 500 sectors, the materials sector performed the best with a cumulative increase of about 3.4%.
Editor / jayden