Goldman's Rubner Warns of Impending Correction, Advises Against Buying the Dip

Reported 5 months ago

Goldman Sachs Group Inc.'s Scott Rubner predicts a downward trend for the S&P 500 Index, cautioning against buying the dip as a correction looms. Rubner points to historical data suggesting July 17 as a turning point for equities returns, followed by August typically witnessing outflows from passive equity and mutual funds. With weak seasonality, stretched positions, and already priced good news, Goldman's trading desk anticipates a summer correction with limited potential for further gains. Despite optimistic factors like strong earnings and potential rate cuts from the Federal Reserve, Rubner advises clients to consider acquiring Nasdaq 100 and S&P 500 December lookback put options to navigate the uncertain market conditions.

Source: YAHOO

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