Golden Finance reported that Scott Rubner, managing director and tactical expert at Goldman Sachs Global Markets, said that the U.S. stock market will experience two consecutive painful weeks starting in early August. A large amount of passive outflows from investors may weaken returns, and disappointing corporate earnings will force systematic funds to sell stocks. In the first half of 2024, there was a massive inflow of stocks from stock ETFs and mutual funds, the second highest on record at $231 billion, and the following August is usually the worst month for stock inflows in the year. Funds have been deployed in the third quarter, and no inflows are expected in August. "Buyers are out of ammunition, and I'm watching for outflows," Rubner wrote in a report to clients on Monday. U.S. and global stock markets typically experience outflows before elections, and then resume inflows again in November. Hedge funds usually have lower net exposure before elections.