Uncertainty is also on the rise among investors in technology exchange-traded funds. They pulled more than $300 million out of tech ETFs last week. While the amount was small, it’s in contrast with inflows seen across the market.
“Earnings are over, there’s no macro data, the only catalyst left this year is a Fed hike,’ said Michael Antonelli, an institutional equity sales trader and managing director at Robert W. Baird & Co. “All bulls have right now is a prayer that a Santa Claus rally shows up.”
This article was provided by Bloomberg News.