Goldman Sachs warns investors to expect lower returns over the next year

Goldman Sachs' chief global equity strategist Peter Oppenheimer warns investors to expect lower returns for stocks over the next 12 months, in the mid-to-high single-digit percentage range. This comes after a period of phenomenal returns, with the S&P 500 gaining 12% year-to-date in 2026. Oppenheimer attributes this outlook to factors such as a global government bond sell-off and surging crude oil prices, which are pushing yields higher and pressuring stocks.