Goldman goes through second-half scenarios that could lead to a 17% S&P drop or continued rally

Traders on the floor of the New York Stock Exchange.
Source: NYSE

Halfway through 2021, the S&P 500 is back at a record and sitting just 1% below Goldman Sachs' year-end target. The firm went through various second-half scenarios related to inflation, interest rates and tax policies that could change that outlook.