Goldman forecasts just 3% S&P 500 annual return over the next decade, down from 13% the lastThe S&P 500 will generate miniscule return over the next decade given today’s high concentration in just a few stocks and a lofty starting valuation, Goldman Sachs’ equity strategy team forecasted.The broad market index will produce an annualized nominal total return of just 3% the next 10 years, according to the team led by David Kostin, which would rank in just the 7th percentile of 10-year returns since 1930. That forecast falls far short of the booming gains from the last one, as the S&P 500 returned 13% annually the last 10 years, above the long-term average of 11%, Goldman noted.The broad-market index has gained nearly 23% year to date.For more on Goldman’s bearish long-term forecast, read here.— John Melloy, Pia SinghStocks open lower on MondayDallas Fed President Logan backs ‘gradually’ reducing interest ratesFederal Reserve Bank of Dallas President Lorie Logan speaks at a…
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