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Goldman Sachs Predicts International Stocks to Outperform U.S.

11/27/2025

Summary

Story summary

Goldman Sachs says international stocks will outperform U.S. markets over the next decade, with the S&P 500 returning about 6.5% annually versus 10% for emerging markets and Asian stocks.
Greg Calnon, cohead of public investing at Goldman Sachs Asset Management, identifies opportunities beyond AI.
Small-cap stocks are benefiting from the AI boom.
Healthcare stocks have seen a 14.5% increase this year, and international stocks gained 26.8% year-to-date, outpacing the U.S.

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Story summary

Goldman Sachs says international stocks will outperform U.S. markets over the next decade, with the S&P 500 returning about 6.5% annually versus 10% for emerging markets and Asian stocks.
Greg Calnon, cohead of public investing at Goldman Sachs Asset Management, identifies opportunities beyond AI.
Small-cap stocks are benefiting from the AI boom.
Healthcare stocks have seen a 14.5% increase this year, and international stocks gained 26.8% year-to-date, outpacing the U.S.