Iran conflict 'more inflation shock, than growth shock': Goldman

• The conflict is perceived as an inflation shock, not a growth shock, influencing central bank rate hike strategies.
• Equity markets are underpinned by robust underlying profit growth, with the US expecting roughly 12% year-over-year profit growth.
• Opportunities lie in energy, commodity-related areas, and banks, while consumer-related sectors face risks from rising input costs and dampened margins.

Goldman Sachs' Peter Oppenheimer views the recent conflict as an inflation shock rather than a growth shock, influencing central bank rate hike strategies. He anticipates continued strong underlying profit growth for equities, particularly in tech, energy, and commodity-related sectors, supporting market performance despite potential headwinds for consumer-related industries.