[Goldman Sachs trader: U.S. stocks are still in a bull market, but the room for error is quite small] Golden Finance reported that Goldman Sachs’ top trader Tony Pasquariello pointed out that in the past four decades, the economy has experienced five interest rate cuts by the Federal Reserve. A recession didn't follow, and on average, the broader S&P 500 gained 17% in the 12 months following the first rate cut. However, in the current interest rate cutting cycle, U.S. GDP growth is hovering at 3%, which is very strong, and the Dow and S&P have regained all-time highs. This makes the current stock market, especially the Nasdaq 100, which is dominated by technology stocks, not very attractive. ” and “the margin for error is quite small.” He still believes that the US stock market is in a bull market, and "the future trend is still higher", but the risk/reward has been significantly reduced, "the setting is very harsh, and the path will be unstable", but in the past two years, he has bought when the market has sharply corrected in the future. strategy is still effective.