Goldman Sachs Forecasts 11% Global Equity Returns

Goldman Sachs Research projects global equities will deliver total returns of 11% over the next 12 months, driven by robust earnings growth that the bank says will outweigh risks from historically high valuations. In a 2026 outlook released this week, analysts forecast a 9% rise in equity prices plus dividends, argue the macro backdrop remains supportive absent recession, and recommend diversification toward emerging markets and AI-capex beneficiaries.