Goldman's Kostin Sees Three 25 Bps Hikes in Early 2023

The transcript discusses the current market conditions, highlighting higher rates and a weaker dollar. It explores the S&P 500's expected performance, with a potential drop in the first quarter and a recovery later. The discussion includes the Federal Reserve's possible rate hikes and their impact on market optimism. Goldman Sachs predicts specific rate hikes, emphasizing the risks to market valuation and earnings. The transcript concludes with a focus on the market's high valuation and the risk of higher-than-expected rates.

What are the expectations for the S&P 500 in the first quarter according to the text?

What does the speaker suggest about the potential for a market pivot?

What is the anticipated impact of the Federal Reserve's rate hikes on the market?

What challenges are mentioned regarding earnings revisions in the text?

How does the current equity market valuation compare to historical levels?