Investors were on the retreat this week as the market bounced off the declining trend line dating back to the highs at the beginning of the year, thereby keeping the downtrend in place. US stocks were off by 3.57% and international stocks by 1.49%. According to Refinitiv Lipper, there was a $26.6 billion outflow from the domestic equity mutual and exchange-traded funds over the seven days that ended Wednesday, the biggest weekly outflow since April 2021.
Investors are looking toward Tuesday’s consumer inflation report, which is expected to show that inflation has continued to decelerate. But the producer-price report, released on Friday, came in higher than expected, at +0.3% in November versus the 0.2% estimate.