STOCKS | Goldman Sachs’ John Flood Sees S&P 500 Having a Clear Path to 8,000 This Year

Goldman Sachs partner and head of Americas equities execution services John Flood said the sharp drop in U.S. stocks on Friday represented a buying opportunity on weakness, describing the pullback’s technical profile as more consistent with a healthy correction. According to Odaily, Flood said the decline was mainly driven by profit-taking ahead of the weekend and expectations of increased new share supply. He added that the recent retreat looked like a normal correction within a bull market rather than a trend reversal. Flood said markets remain concerned about inflation pressures, Iran-related geopolitical risks, and potential uncertainties in private credit markets, which he said indicates investors have not become overly optimistic. Flood also said there is a clear path for the S&P 500 to reach 8,000 this year, adding that there are not many opportunities to buy the dip this year. He said historically, buying when the S&P 500 pulls back 2% has typically generated returns.