Goldman Sachs Says Capital Spending Is Powering the Bull Market
Bloomberg 2026-07-01 11:53:24
Context: The US stock market has experienced its best quarter in six years, with significant gains driven by a broad-based increase in capital spending across major economies, according to Goldman Sachs Chief Global Equity Strategist Peter Oppenheimer. This trend has contributed to a rally that has added over $8 trillion to the S&P 500's market value in the past three months. The recent surge was fueled by fresh data indicating strength in both the labor market and consumer sentiment.
Key Facts
- The S&P 500's market value has increased by more than $8 trillion over the past three months, driven by a rally that has gained further momentum from signs of economic resilience.
- Goldman Sachs Chief Global Equity Strategist Peter Oppenheimer believes that a broad-based increase in capital spending is helping to underpin the current bull market, a trend not seen in a generation.
- The recent quarter was the best for stocks in six years, marked by a rebound in chipmakers from war-driven lows and signs of economic resilience boosting confidence in corporate earnings.
- Fresh data has pointed to strength in both the labor market and consumer sentiment, contributing to the ongoing rally in the stock market.
- According to Peter Oppenheimer, major economies are experiencing a broad-based increase in capital spending for the first time in a generation, which is supporting the current bull market.