MARKETS
S&P 500 headed for worst day in nearly 2 months as the Market is looking for a change in direction on Federal Reserve hawkish rate hikes
NYSE decliners leading advancers 5-1 in market sell-off as U.S. stocks down Monday as fears of aggressive interest rate hikes returned to Wall Street. Our data shows 2,450 New York Stock Exchange-listed stocks fell, while 503 names traded higher. In other words, roughly five stocks declined at the NYSE for every advancer.
We see limited upside and potential downside risks ahead, including fears about a recession
Performance around bear market rallies and the end of Fed hiking cycles look similar to us and our teams see continued like rally patterns through year-end – Vica Partners Group
Looking deeper, last Friday we saw the options expiration Week in effect
$1.4 trillion tied to the S&P 500, as well as $430 billion tied to single stocks, and the balance tied to other indexes expired Saturday. The Federal Reserve July minutes had little to no effect on the market! – Matthew Krumholz CEO Vica Partners
