Wobble this week partly reflects cash raised to fund additional buys of SpaceX post-IPO (due to Nasdaq 100 and Russell 1000 inclusion)

Equities have wobbled in the past week pushing S&P 500 down -2.6% month to date. This is not entirely surprising given the >10% gains registered in May. But we think the upcoming SpaceX IPO is probably creating near-term wobbles:

In our view, there are several factors contributing to market turmoil in the past week:- some investors see SpaceX IPO as setting "the top" for the market given the sheer size- additionally, Google $GOOGL, Meta $META, Anthropic and OpenAI are set to raise ...

Equities have wobbled in the past week pushing S&P 500 down -2.6% month to date. This is not entirely surprising given the >10% gains registered in May. But we think the upcoming SpaceX IPO is probably creating near-term wobbles:

In our view, there are several factors contributing to market turmoil in the past week:- some investors see SpaceX IPO as setting "the top" for the market given the sheer size- additionally, Google $GOOGL, Meta $META, Anthropic and OpenAI are set to raise ...

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