Goldman's Waldron Sees 'Healthy' Markets Pullback

Market Trends & Concerns - The market is experiencing a healthy pullback after a significant run this year, particularly in U S equity markets focused on AI [1] - Investors are closely watching Nvidia earnings as a crucial indicator for AI investment returns [1][3] - Labor market uncertainty, influenced by events like the government shutdown, is a major concern for investors [2] - Inflation remains stubbornly high, impacting market sentiment [2] - Affordability is a key focus in the U S election cycle, shaping market dynamics [3] Investment Strategy & Outlook - Investors are pulling back to protect gains after a strong market performance [3] - Market technicals suggest a bias towards more protection and potential downside, with increased short activity and macro hedging [4] - There's a potential for further market pullback, although it may not be drastically pronounced [4]