[Goldman Sachs: Volatility at this time of year is 'normal,' nothing 'abnormal'] According to a report by Golden Finance, Goldman Sachs believes that the recent approximately 5% pullback in the U.S. stock market is a typical year-end seasonal fluctuation within the AI cycle and does not signal an abnormal end to the rally. Goldman Sachs traders pointed out that despite the market experiencing a pullback, there is still room for growth before the end of the year. Driven by seasonal factors, the early-stage AI investment cycle, and relatively light institutional positioning, indices still have the potential to move higher. According to Shreeti Kapa, a fixed income, foreign exchange, and commodities trader at Goldman Sachs, a 5% decline at this time of year is a normal phenomenon in this cycle. She believes that although the market has experienced a strong rebound since the April lows, overall, it is 'not excessive.'