RBC’s Markets in Motion is the weekly podcast from Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets, highlighting her latest views on the US equity market.
The big things you need to know:
- First, we see Friday’s weaker-than-expected jobs report as having added some additional uncertainty to the US equity market outlook at a time when we’ve been on guard for choppiness for other reasons.
- Second, we reiterate our overweight stance on the S&P 500 Materials sector.
- Third, other things that jump out to us include the weakness in bitcoin and the deterioration in US equity flows and retail flows specifically, which add to our near-term concerns.