Risk appetite has been swinging from concern about slowing global growth and profits to optimism that aggressive Fed easing was just around the corner. Optimism appears to have won the day, at least for now. Hints last week of the Fed’s readiness to cut rates sparked a global equity rally, with US stocks notching new highs.
In its recent announcement on projected changes for the Russell US Indexes at this year’s Russell Reconstitution, FTSE Russell highlighted that recent IPOs Uber (UBER), Lyft (LYFT) and direct listing Spotify (SPOT) are among a list of notable new market entrants expected to directly enter the US large-cap Russell 1000® Index at this year’s Russell US Indexes Reconstitution.
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