Short sellers return to profit in August as U.S. stocks rally pauses

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The bearish investors made $14.8 billion on aggregate last month after shedding $16.5 billion in July

The S&P 500 snapped a five-month winning streak in August as a rise in U.S. Treasury yields weighed on shares of heavyweight growth stocks such as Apple and Microsoft , whose future cash flows are discounted more with a rise in rates.

J&J unveiled the first outlook for its standalone drugs and medical device businesses late last month after completing the spinoff of its consumer health company Kenvue.

 

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