US equity funds saw their biggest weekly outflows in over a month last week, totaling $5.83 billion, as Wall Street contends with market volatility and has begun pricing in the Federal Reserve’s next interest rate decision to come later this week.
Investors are watching a variety of stocks linked to the respective Trump and Harris trades ahead of Election Day this Tuesday.
Southwest Airlines (LUV) names Rakesh Gangwal as its new board chair.
Yahoo Finance special reporter Rachelle Akuffo recaps several of the biggest market stories this morning.
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
This post was written by Luke Carberry Mogan.
Video Transcript
So first taking a look at US equity funds, they saw outflows of $5.83 billion.
That’s actually their biggest weekly outflow in five weeks as October wrapped.
That’s according to the London Stock Exchange Group.
Now, with that in mind, market sentiment turned cautious ahead of a tightening presidential race as voters head to the polls on Tuesday.
And, of course, the next Federal Reserve’s moves on Wednesday after Boeing strikes and hurricanes took a toll on October’s jobs numbers.
So we’ll be keeping an eye on those and speak of elections.
The so called Trump and Harris trades are clearly back in focus with their policy related tickers gauging sentiment in this final race at the White House.
Now for the trump trade, keep an eye on domestic oil and gas, crypto and defence as well as, of course, Trump’s own ticket DJ T. But for these also watch ExxonMobil.
That’s TXOM Bitcoin BT C and Lockheed Martin LMT for defence, along with financials including JP.
Morgan Chase.
That’s the J PM ticker.
Now that’s if deregulatory measures and corporate tax cuts pick up steam with a trump win now for the Harris trade, take a look at clean energy stocks like first solar FSLR, healthcare companies like Centene CNC and home building stocks like DR Horton DH.
I.
Now these are aligning with Harris’s renewable energy, healthcare affordability and first time home buyer focus.
So keeping an eye on those and, of course, a major update from the Southwest boardroom.
Long time aviation veteran and billionaire Rakesh GW has been named the new independent chair of Southwest Airlines.
Now the former CEO and chairman of US Airways Group and the co-founder of budget carrier Indigo joined Southwest as a director back in July.
That was after activist investor Elliott Investment Management criticised the board’s lack of aviation experience and they certainly do get that now with their new independent chair of the board there, Brad Michel le Coo, Thank you so much.