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Goldman gets bearish on earnings forecast, sees only 3% growth this year

John Melloy

Goldman Sachs says 2019 earnings growth could be as low as just 3 percent because of slow economic growth, a strong dollar and low oil prices. Corporate outlooks coming out during this upcoming earnings season will determine the short-term direction of the S&P 500, the firm says. Avoid companies with sales highly leveraged to economic growth like materials and industrials, Goldman says.