According to data from LSEG, U.S. investors purchased equity funds of about $1.83 billion on a net basis, breaking a four-week-long selling streak.
A Commerce Department report last week, showed that the U.S. economy grew much faster than expected at 3.3% in the last quarter, allaying concerns of an impending recession.
By segment, large-cap funds secured $3.43 billion, the most in a week since Dec. 27, 2023. Conversely, multi-, mid-, and small-cap funds lost $1.52 billion, $1.35 billion and $759 million, respectively in net selling.
Among sector funds, tech received $1.28 billion, the highest in seven weeks, followed by $271 million worth of net purchase in the industrials sector. The utilities sector, meanwhile, witnessed about $1.01 billion worth of outflows.
Simultaneously, U.S. bond funds attracted $7.09 billion, the biggest amount in a week since Jan. 3.
U.S. general domestic taxable fixed income funds drew $4.62 billion, the largest in three weeks.
Short/intermediate investment-grade, and municipal debt funds also secured $2.63 billion and $1.48 billion respectively, while short/intermediate government & treasury funds faced $5.43 billion worth of net selling.
Additionally, investors poured about $40.39 billion into U.S. money market funds, turning net buyers after two weeks of net selling in a row.
Source: Economy - investing.com
