Wall Street is on pace to break its long streak of weekly declines. The Dow posted its fifth gain in a row on Thursday, rising 1.6%, the S&P 500 climbed approximately 2%, while the tech-heavy Nasdaq Composite gained 2.7%. However, the market is still in correction territory. The S&P 500, Dow, and Nasdaq are down 14.9%, 10.2%, and 25%, respectively, year-to-date.
In addition, Goldman Sachs Group Inc. (GS) has predicted that the S&P 500 might decline to the 3,600 mark if an economic recession happens sometime over the next year. Even if a recession is avoided, there might be declines in the equity market due to the rising interest rates.
