FX.co ★ Speculators Trim Bearish Bets on S&P 500 Futures, CFTC Data Show

Speculative investors have slightly reduced their bearish exposure to the S&P 500, according to the latest Commitments of Traders (COT) data from the U.S. Commodity Futures Trading Commission. As of 17 July 2026, net speculative positions in S&P 500 futures stood at -38.9K contracts, compared with -42.9K previously.

The shift indicates that while sentiment among speculators remains net short, some investors have scaled back their downside bets. The moderation in negative positioning could signal a cautious reassessment of U.S. equity market prospects, as traders weigh economic conditions and corporate earnings against lingering uncertainties.

Market participants often monitor changes in CFTC-reported speculative positions as a gauge of broader risk appetite and potential turning points in index futures. The latest move toward a less negative stance may reflect a tentative improvement in confidence, though positioning remains firmly on the bearish side overall.