Goldman Sachs Includes Tyson, CVS on Defensive Stock Screen

Goldman Sachs placed Tyson Foods and CVS Health on a defensive stock screen as it weighs whether slower artificial intelligence spending could weaken a major source of S&P 500 earnings growth. The bank estimates AI capital spending accounts for about half of the index’s earnings growth. It expects that contribution to diminish as spending growth slows, while higher financing costs have raised concerns about the AI infrastructure buildout. Goldman’s Cyclicals vs. Defensives pair fell 6% over two weeks.

Source: TokenPost