STOCK INDEX FUTURES
The stock market’s April swoon continues, with the S&P 500 down -3.07% and the Nasdaq 100 -6.56% on the week.
The S&P 500 has exhibited a concerning trend for the past six days, with prices consistently opening higher before reversing course and closing near the day’s lows. This pattern suggests significant selling pressure emerging throughout the trading session.
Several factors may be contributing to this weakness. Firstly, large trend-following funds known as CTAs have been aggressively selling stocks, adding to the downward momentum. Additionally, investors will likely engage in risk hedging as economic uncertainties rise. Furthermore, tax-related outflows of a staggering $160 billion and stock outflows of around $25 billion are putting further downward pressure on the market.
Published on: Apr 24, 2024
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