New research from Goldman Sachs was headlined by an 8,000 year-end target on the S&P 500 Index ($SPX), nearly 10% higher than this year’s already strong up move. This major upgrade is driven by what analysts describe as “robust, corporate earnings power.” The mainstream narrative is simple: Corporate America is thriving, the bull market is charging ahead, and the fundamental backdrop has never looked healthier.
But if you look past the sensational headline and pop the hood on the underlying data, the reality is starkly different.
