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- Goldman Sachs sees some opportunities in the market.
- The S&P index is down by 25% this year.
- Crypto market was seen struggling too.
Meta, Macy’s Can be a Fruitful Bargain
The dust in the market is not settling anytime soon. Be it the traditional stocks or crypto sector, everything is down to their knees following rising inflation and ecosystem crashes. Amid such horrendous circumstances, Goldman Sachs, an American investment multinational bank, sees some opportunities in the US stocks according to Bloomberg. The global bank remains positive amid S&P’s close below 3,600.
S&P index is down by 25% in a year but Goldman Sachs saw some opportunities in cash flow, profitable growth, small cap and more. The ever restricting federal policies may play a huge role in leading the United States economy towards recession. Goldman Sachs believes that companies like Exelixis, Macy’s, Meta and more would prove to be a nice bargain.
According to The Wall Street Journal report, the Federal Reserve wasn’t in the talking mood as the officials are not happy with the rate hike. Jeremy Powell, Fed chair, says that they will do whatever it takes to suppress the inflation. July 2022’s hike rate remains the major reason for the market’s positive response that triggered unhappiness among the officials.
Now that the investors are in major turmoil, certain actions in future may help them stay in the market. According to the reports, the Biden Administration is due to take actions on the gasoline prices and is thinking about releasing more oil from the Strategic Petroleum Reserve.
The upcoming week might prove fruitful for the corporate earnings as market giants like Tesla, Bank of America, Netflix, Verizon and more are scheduled to report. Streaming services stocks may experience a gain due to the anticipated releases of much awaited shows and TV shows on Disney+ Hotstar, Amazon Prime, Netflix and more.
The crypto sector has not experienced any considerable gain either. Top cryptocurrencies Bitcoin and Ethereum have lost major numbers from the value since the start of crypto winter. BTC has fallen over 70% since its all time high in November 2021. Ethereum brought in the Merge to reduce the carbon emissions from the operations but it has not helped in pushing asset’s value.
Though the metaverse economy is intact, as blockchain games are seeing a rise in their daily active users. Axie Infinity, Decentraland, The Sandbox are attracting unique active wallets constantly. Flow blockchain gained 79% in its UAW while polygon saw a 17% rise recently.
World markets and the cryptosphere are struggling, and are not expected to recover soon. Though the actions from US authorities may help the traditional market to rise up, there’s no significant sign for the digital assets recovery in the near future.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
