The S&P 500 has stalled for two months as a bond-market selloff and narrow stock leadership weigh on the index. Goldman Sachs' Tony Pasquariello still expects the benchmark to end 2026 above current levels, arguing the setup is less bearish than many strategists suggest.
The S&P 500 has been stuck in a holding pattern for two months, its advance stalled by turmoil in the bond market and undermined by a narrow group of stocks keeping the index afloat. Tony Pasquariello, head of Goldman Sachs' hedge fund coverage, argues the picture is not as bleak as many market commentators suggest.
Pasquariello acknowledges the trading environment is far from simple, but he still expects the underlying trend to point higher and the S&P 500 to close 2026 above where it trades today.
The index itself trades at 7773.95, up 0.66%. The 10-year Treasury yield, meanwhile, sits at 5.280%, underscoring the rate pressure Pasquariello says investors must navigate without abandoning the broader uptrend.
Source: MarketWatch (snippet-based)
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