DOW, S&P 500, Nasdaq -Futures slides before the Fed meeting, as Trump indicates in pharmaceuticals

The steep recovery of the stock markets in the past two weeks is typical of the rallies of the bear market, and the unpredictable swings mean that almost every investor has pain in which the market suddenly moves.

The strategist of the Goldman Sachs Group (GS), Peter Oppenheimer, said: “The asymmetry for equity investments is bad. Sharp rallies within the bear markets are the norm, not the exception.”

The biggest market driver is still uncertainty without any real long -term bullish or bear conviction of investors. Price action is mainly through short-term headlines and assumptions how the rapidly developing US tariffs tell themselves through company income and reset ratings.

“If the tariff announcements are quickly reversed with little permanent economic damage, this indicates that the downward risks are limited. With current ratings, however, we also believe that the upward trend is limited,” wrote Oppenheimer in a note.

Investing in such a regime becomes far more difficult if both upward trend and downwards are regarded as limited and the decision making is caught in the foggy risk of headlines. The market participants have to choose between the persecution of a fading rally and then risk, go out too late, or only miss it higher. You want to avoid falling doors in a tricky macroeconomic environment and at the same time capture opportunities.

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