Goldman Sachs Global Investment Research has kept a neutral cross-asset stance for the next three months and a modestly pro-risk tilt for 12 months, after the Federal Reserve and Bank of Japan each raised policy rates by 25 basis points and Brent crude moved back above $100/bbl. The bank’s GOAL Kickstart report, dated 21 September 2026, forecasts an S&P 500 level of 8,300 on a 12-month horizon and cuts its Brent forecast to $85/bbl from $104 spot. Goldman’s Risk Appetite Indicator has softened from its August peak but rebounded slightly to 0.8 last week.
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