Goldman CEO David Solomon thinks Wall Street's rally in recent months is overblown and stocks are 'a little bit ahead' of where they should be

Reuters

• Goldman Sachs boss David Solomon thinks Wall Street's recent rally is out of step with reality and markets have risen too quickly from their March slump.
• He said at the Bloomberg Invest Conference Wednesday: "The equity market does seem to be a little bit ahead of my view of the future earnings performance of businesses." 
• But Solomon is predicting a V-shaped recovery for the US economy despite a rise in COVID-19 cases. 
• The International Monetary Fund said Wednesday that global output will shrink by 4.9% in 2020, higher than its initial 3% forecast. 
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Goldman Sachs boss David Solomon thinks Wall Street's recent rally is out of step with reality and markets have risen too quickly from their March slump.

Speaking at the Bloomberg Invest Conference on Wednesday, Goldman's CEO said: "The equity market does seem to be a little bit ahead of my view of the future earnings performance of businesses." 

See the rest of the story at Business Insider

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