Goldman Roadmap: Equities Enter the Earnings Test as AI Capex Rewrites Market Leadership
The post Goldman Roadmap: Equities Enter the Earnings Test as AI Capex Rewrites Market Leadership appeared on BitcoinEthereumNews.com. Goldman roadmap Goldman Sachs Chief Global Equity Strategist Peter Oppenheimer has put a proper roadmap under what has otherwise looked like a deceptively simple equity rally. The easy version is that global stocks had a powerful first half. The more useful version is that the market has changed engines. The first leg was helped by valuation expansion, easing fears and the reflexive bid that follows any drop in macro anxiety. The next leg is harder. It is about earnings, capex, sector transmission, supply, buybacks, M&A and whether the AI infrastructure boom can keep feeding the broader equity machine without overheating the funding channel. That is the core message in Goldman’s July 2026 Corporate Macroscope: A Macro Guide to the Micro World. The report argues that global equities delivered an exceptional first half despite geopolitical risk, oil volat