Goldman’s Rubner: Market correction may start if August jobs report disappoints

seekingalpha09-05

The August jobs report falling short of expectations at the end of this week could jumpstart a correction in equities, Goldman Sachs' Scott Rubner said Wednesday. The August payrolls report will land...

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The August payrolls report will land...</p>\n\n<a href=\"https://seekingalpha.com/news/4147108-goldmans-rubner-market-correction-may-start-if-august-jobs-report-disappoints\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman’s Rubner: Market correction may start if August jobs report disappoints</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman’s Rubner: Market correction may start if August jobs report disappoints\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-05 06:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4147108-goldmans-rubner-market-correction-may-start-if-august-jobs-report-disappoints><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The August jobs report falling short of expectations at the end of this week could jumpstart a correction in equities, Goldman Sachs' Scott Rubner said Wednesday.  The August payrolls report will land...</p>\n\n<a href=\"https://seekingalpha.com/news/4147108-goldmans-rubner-market-correction-may-start-if-august-jobs-report-disappoints\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SQQQ","symbol_name":"纳指三倍做空ETF","start_time":0,"source_url":"https://seekingalpha.com/news/4147108-goldmans-rubner-market-correction-may-start-if-august-jobs-report-disappoints","article_id":"2465563910","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2170195443/image_2170195443.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2465563910","pubTimestamp":1725488284,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The August jobs report falling short of expectations at the end of this week could jumpstart a correction in equities, Goldman Sachs' Scott Rubner said Wednesday.  The August payrolls report will land","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SQQQ":"纳指三倍做空ETF","OEX":"标普100","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD",".SPX":"S&P 500 Index","DIA":"道琼斯ETF","BK4561":"索罗斯持仓","BK4581":"高盛持仓","SPY":"标普500ETF","OEF":"标普100指数ETF-iShares","BK4504":"桥水持仓","QQQ":"纳指100ETF","SDS":"两倍做空标普500ETF","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","BK4127":"投资银行业与经纪业","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","DDM":"道指两倍做多ETF","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","BK4593":"纳斯达克ETF","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4534":"瑞士信贷持仓","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","SH":"标普500反向ETF","BK4585":"ETF&股票定投概念","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","DOG":"道指反向ETF","SPXU":"三倍做空标普500ETF","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","IVV":"标普500指数ETF","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","QLD":"纳指两倍做多ETF","VOO":"Vanguard标普500ETF","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","UPRO":"三倍做多标普500ETF","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","RSP":"平均加权指数ETF-Rydex S&P","UDOW":"道指三倍做多ETF-ProShares","SSO":"两倍做多标普500ETF","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓","BK4588":"碎股","LU0106831901.USD":"贝莱德世界金融基金A2","BK4552":"Archegos爆仓风波概念"},"translate_title":"高盛鲁布纳：如果八月就业报告令人失望，市场可能会开始调整","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VOO":1,"DOG":1,"DIA":1,"DDM":1,"QLD":1,"QQQ":1,"RSP":1,"SPY":1,"SQQQ":1,"UDOW":1,"OEF":0.6,"SPXU":0.6,"OEX":0.6,"IVV":0.6,"UPRO":0.6,"SSO":0.6,"SDS":0.6,"SH":0.6,"ESmain":0.6,".SPX":0.6},"content_text":"The August jobs report falling short of expectations at the end of this week could jumpstart a correction in equities, Goldman Sachs' Scott Rubner said Wednesday.  The August payrolls report will land on Friday. Rubner, Goldman's global markets division managing director and tactical specialist, in a note said he's bearish on U.S. equities starting on Sept. 16, with the second half of the month the S&P 500's (SP500) worst two-week trading period of the year, but clients are already getting ahead of negative market technicals. \"A market correction may start to get traction if payrolls are weak on Friday,\" he said. Economists are looking for 163K job additions, up from 114K in July, and a drop in the unemployment rate to 4.2%. The S&P 500 (SP500) finished higher in August following a sharp selloff spurred largely on recession fears. The index was pushed closed to, but not into, a correction.  Rubner said one downside risk for the equity market is an upcoming decline in purchasing demand by U.S. corporates. A corporate buyback blackout period starts Sept. 13, ahead of earnings reports, and 50%of corporates will enter that period. Passive demand from that group is estimated at $6.62B until the blackout period starts. \"This week is [the] peak open window for corporates,\" Rubner said. \"U.S. corporates have been the largest buyer of the equity market and we expect their demand to drop by 35% during the closed window.\"  Meanwhile, pension funds have been reducing equity risk before the November U.S. election as they are funded at 103%.  Also, equity market exposure by Commodity Trading Advisors is skewed tothe downside over the next month, Rubner said. Futures trading managers are poised to sell $17.4B in a \"flat tape\" market and sell $65.6B in a down market, with sales of ~$3.7B on deck in an up market.  The S&P 500 (SP500) slipped 0.2% on Wednesday, and was up 15.7% YTD.  Investors can track equity indexes via ETFs that include: S&P ETFs: (SPY), (VOO), (IVV), (RSP), and (SPXU). Dow ETFs: (DIA), (DDM), (UDOW) and (DOG).  Nasdaq ETFs: (QQQ), (QLD), and (SQQQ).   More on the markets","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2465563910"}