Goldman says buy these kinds of stocks as firm sours on overall market amid rate surge

Goldman says buy these kinds of stocks as firm sours on overall market amid rate surge

Goldman Sachs recently slashed its year-end target for the S & P 500 citing higher than expected interest rates. The bank now sees the S & P 500 shedding another 4% to 3,600 at year's end. The dismal outlook comes after the Federal Reserve this week raised interest rates by 0.75 percentage point, its third consecutive hike of that size. The central bank also boosted its terminal rate to 4.6% by 2023 , indicating one more 0.75 percentage point hike …