Citigroup turns cautious on US stocks
Citigroup dropped its overweight call on US equities and closed its long position in the S&P 500 Equal Weight index. The brokerage cited growing caution over stretched market sentiment and rising indicators of market exuberance.
Xurve View
Insights:
Xurve View
Citigroup Inc. dropped its overweight call on equities in the United States and closed its long position in the Invesco S&P 500 Equal Weight ETF on Tuesday afternoon. The bank cited building market exuberance as the primary driver for taking risk off the table.
