Has the U.S. Stock "Correction Ended"? Goldman Sachs, JPMorgan, and BofA Remain Cautious

Goldman Sachs believes that the U.S. stock market has bottomed out, and the market will likely exhibit volatility but with an overall upward trend in the future.

JPMorgan is more cautious, stating that while the worst might be over, factors such as the September rate decision, seasonal weakness, and pessimism could bring further downside risks. Former JPMorgan chief strategist Marko Kolanovic, who had been warning of disordered momentum trades for months before his departure, might feel vindicated by the past week’s market turmoil.

BofA’s well-known analyst Michael Hartnett believes that U.S. stocks have yet to break through key technical levels, and investors still favor the stock market, though AI stocks are concerning for the second half of the year.