Goldman Sachs: U.S. stock pullback will be in order if weak non-farm payrolls data

A pullback in U.S. equities could start to take hold if Friday's non-farm payrolls report comes in weak, says Goldman Sachs Group's Scott Rubner. Rules-based systematic funds such as commodity trading advisors (CTAs) now have an asymmetric downside bias for the month ahead, ‘This is the last week of non-emotional demand,’ Rubner wrote. CTAs could sell $17.38 billion of U.S. equities in a flat market; upside market selling could be as large as $3.73 billion, while a stock market decline could result in up to $65.55 billion in equity sell-offs.