Goldman Sachs Partner John Flood Talks Selloff, Stocks Dip | Bloomberg Talks

Goldman Sachs' John Flood is bullish on equities, viewing the current selloff as a buying opportunity. He cites robust institutional demand for offerings, healthy skepticism (hedged positioning), and still-neutral sentiment indicators as reasons for further upside, with a year-end S&P 500 target of 8000.

Yields up , short term, interviewee explicit

explicit

NDX up , medium term, interviewee implicit

implicit

RUT up

Oil

Metals

USD

Goldman Sachs 9.0
Investment Bank $2500.00B
John Flood 9.0

Goldman Sachs Partner John Flood Talks Selloff, Stocks Dip | Bloomberg Talks

ndx

Flood is very constructive on the equity market, citing robust demand for tech offerings and a path to 8000 for the S&P 500. He specifically mentions the memory (semiconductor) space as having room to run, which is a key component of the NDX.

rut

Flood's bullish outlook on the broader equity market, including his view that retail investors will continue to buy and that dips are buying opportunities, implies a positive view for small-cap indices like the RUT.

yields

The strong jobs print has rates moving higher, and people now think that we will get a rate hike by year end.

27 calls

-2

no reliable edge (random outcomes)

5/28/2026 8:01:54 PM	short term cautious up	5 days later	+0.85%	+0.43%
5/6/2026 9:19:41 AM	short term cautious up	5 days later	+1.62%	+0.81%
5/5/2026 1:43:30 AM	short term cautious up	5 days later	+1.24%	+0.62%
4/20/2026 7:09:00 AM	medium term up	20 days later	+2.75%	+2.75%
3/4/2026 2:04:00 PM	short term up	5 days later	-0.24%	-0.24%
2/12/2026 6:36:08 PM	medium term cautious down	20 days later	+2.22%	-1.11%
1/30/2026 6:19:23 AM	medium term cautious down	21 days later	-5.75%	+2.88%
12/9/2025 6:20:53 PM	medium term cautious down	20 days later	-0.82%	+0.41%
11/28/2025 6:04:11 PM	medium term down	21 days later	+1.78%	-1.78%
11/13/2025 8:45:53 PM	short term down	5 days later	-0.36%	+0.36%
11/7/2025 7:28:39 PM	medium term cautious down	21 days later	-0.34%	+0.17%
10/29/2025 5:37:32 PM	medium term cautious down	20 days later	+0.98%	-0.49%
10/28/2025 6:42:40 PM	medium term cautious down	20 days later	+1.60%	-0.80%
10/28/2025 1:59:32 PM	short term cautious down	5 days later	+1.18%	-0.59%
10/24/2025 6:55:30 PM	medium term cautious down	21 days later	+3.40%	-1.70%
10/15/2025 9:58:39 AM	medium term cautious down	20 days later	+4.55%	-2.28%
10/7/2025 1:51:58 PM	short term up	5 days later	-1.89%	-1.89%
9/29/2025 2:12:26 PM	short term cautious down	6 days later	+0.34%	-0.17%
9/16/2025 4:19:00 PM	medium term cautious down	20 days later	+1.25%	-0.63%
9/11/2025 1:30:06 AM	short term cautious down	5 days later	+0.37%	-0.18%
9/9/2025 10:35:22 PM	short term cautious down	5 days later	+0.05%	-0.02%
9/5/2025 6:25:27 PM	medium term cautious down	21 days later	+2.35%	-1.17%
9/3/2025 7:20:32 PM	short term cautious down	5 days later	-2.44%	+1.22%
9/2/2025 1:47:03 PM	short term sharp up	5 days later	-3.92%	-5.88%
8/12/2025 11:12:01 PM	short term cautious down	5 days later	+2.43%	-1.22%
8/6/2025 7:05:41 PM	medium term cautious down	20 days later	-0.14%	+0.07%
8/1/2025 6:12:49 PM	short term down	7 days later	+1.74%	-1.74%

Show all 27 yields results

Asks John Flood about the signal from mega-cap tech companies like Meta doing large share sales.

Tim
John Flood

The robust demand for these offerings from institutional investors signals a very healthy market, and this trend is expected to continue.

This is a major piece of why we are very constructive on this equity market despite the S&P 500 already making 24 all-time highs.
Asks if the AI-driven market is just a FOMO trade that could face a reckoning.

Natalyia Kenny Javich
John Flood

Institutional investors show discipline; hedge funds are long single stocks but are more short macro products than ever, indicating healthy skepticism and a 'wall of worry' to climb.

This is the most hedged we've ever seen hedge fund clients at Goldman Sachs on the equity floor.
Asks if today's selloff is a buying opportunity or if it's time to take profits ahead of big tech IPOs.

Carol
John Flood

Yes, it's a buying opportunity. Dips have been few and far between, and buying them has paid off. The strong jobs print is causing rates to move higher, but there is still significant cash on the sidelines and short exposure for the market to climb higher.

The top fears are inflation, Iran, and private credit. The jobs print has people thinking we might get a rate hike, but this is healthy.
Asks why Goldman's positioning indicator is still neutral despite all-time highs, and what that means for direction.

Carol
John Flood

The neutral positioning is a tailwind. Gross exposure is high but hedged, and mutual fund cash balances are at long-term averages, not an outlier. This shows healthy skepticism, not overextension.

Our sentiment indicator is showing healthy positioning, not overextended positioning.
Asks if retail investors are ignoring the risk of a pullback given institutional caution.

Natalyia Kenny Javich
John Flood

There is a slight disconnect; retail will continue to buy. Retail only stops buying when there is true job loss, which we haven't seen since March 2020.

You have to watch employment. Until we see job destruction, the retail bid will remain a healthy constant.
Asks what would give Flood pause apart from job losses.

Tim
John Flood

Disappointed earnings would be highly concerning. We haven't seen any evidence of that and aren't bracing for it.

Last quarter earnings were solid, and we are optimistic about next quarter.
Asks about systematic fund (CTA) positioning and its impact on market direction.

Carol
John Flood

Systematic funds are relatively full on S&P 500 exposure. The highest velocity of buying is behind them. If the market turns lower, they will sell, but their positioning is small relative to retail, corporates, and asset managers.

All the other sleeves of demand outweigh that in a move lower.
Asks if the market is fairly priced ahead of the next earnings season, given the P/E ratio is closer to the long-term average.

Carol
John Flood

We don't think it's overly expensive. The memory (semiconductor) space is still relatively fairly priced with room to run because the fundamentals back it.

There is a ton of focus in Korea and Taiwan, and there is still real value to find.
Asks if the wave of IPOs (Cerebrus, SpaceX, Anthropic) smells like a top or is fundamentally justified.

Natalyia Kenny Javich
John Flood

Fundamentals justify what we are seeing. We are constructive, these dips are buying opportunities, and there is a clear path to 8000 and beyond this year.

SignalTube

markets at a glance