Goldman Sachs: Markets 'fear of falling behind seriously' is back
wall Street news
Goldman Sachs saidastrocityminiFOMU (fear of materially underperforming)astrocitymini, fear of being seriously behind) start a dialogue. Indicators considered to reflect retail trading conditions exceeded their January 2021 highs. Retail stocks still surged throughout the week, indicating that the American people, the largest holders of U.S. stocks, have won against bears. Focus on SPY and QQQ next week.
U.S. stocks hit a record high this week. Retail stocks surged first during the week, and then stalled. Traders are paying close attention to the flow of individual investors 'funds in the stock market.
Scott Rubner, managing director of Goldman Sachs 'global markets, wrote in a note to clients on Friday that this week, the U.S. market entered a positive trading window for 60/40 portfolios, and I began a conversation about FOMU (fear of materially underperforming).
On Thursday, platforms matching broker orders accounted for 51 per cent of over-the-counter trading volumeastrocitymini.6%, exceeding the previous high of 50% in January 2021, which is considered to reflect retail trading conditions.
Rubner said, keep in mind that in the $78 trillion U.S. stock market, 39% of cash stocks are held by the general public, and 65% including mutual funds and ETFs. In this case, I usually hold fewer short positions.
The rebound in retail investors 'interest in U.S. stocks coincides with the explosion of retail stocks such as game station GME this week. In the first two trading days of this week, the stock prices of GME and AMC both experienced triple-digit surges. However, from Wednesday to Friday, GME plunged for three consecutive days. Traders sold off their positions. As of Friday's close, GME was lower than Tuesday's intraday high. The decline reached 65%, and AMC reached 63%. Despite this, GME still saw a 27% increase throughout the week, and AMC reached 51%.
In response, Rubner said that the American people, the largest holders of U.S. stocks, have just won against bears. Next week, focus on capital inflows into the S & P 500ETF (SPY) and the Nasdaq 100ETF (QQQ).
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