Goldman Sachs Sees Slowing Global Stock Market Gains

Goldman Sachs is forecasting slower global stock market gains over the next year. The bank's chief global equity strategist, Peter Oppenheimer, notes that major markets have already posted remarkable returns in the past 12 months.

The S&P 500 and other major regional equity markets are expected to see mid- to high-single digit returns over the next 12 months. However, Oppenheimer believes it will be difficult for these gains to sustain themselves at their current pace.

Earlier this year, Goldman Sachs projected that earnings at major companies and global economic growth would support global equities. Despite this optimism, the bank noted that valuations for major stocks had reached historically high levels after last year's steep advance.