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According to John Flood, a partner at Goldman Sachs, the sharp decline in US stocks on Friday was a healthy adjustment driven by profit taking and expectations of new stock supply. He believes that a market retracement is a normal correction in a bullish market, not a trend reversal. Flood pointed out that the S&P 500 index is expected to touch 8000 points this year, and stated that buying when the S&P 500 index rebounds by 2% usually yields returns.