Asset Management

Miss the January stock surge? You are out of luck, says Goldman

US bank's analysts see 'relatively modest returns' on offer for the rest of the year

A trader on the floor of the New York Stock Exchange.
A trader on the floor of the New York Stock Exchange. Photo: Johannes Eisele/ Getty Images

Equity investors who missed out on January’s stock market rally are likely to have seen the bulk of 2019’s best gains pass them by, say strategists at Goldman Sachs.

The main US benchmarks enjoyed a boomlet last month, after a withering stretch that took hold in October and culminated in a brutal beatdown of bullish investors on December 24 — marking the worst decline on the session immediately before Christmas on record.

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