ETFs & Funds
Home›ETFs & Funds›Fund Industry›U.S. equity funds see outflows ahead of July jobs repo…
U.S. equity funds see outflows ahead of July jobs report
Investors pulled a net $1.58 billion from U.S. equity funds in the week to Aug. 5, after reversing part of the prior week’s $11.77 billion net inflow.
U.S. equity funds recorded net outflows in the week to August 5 as investors took profits following a record rally and looked to the July jobs report for guidance on Federal Reserve rate expectations, Reuters reported, citing LSEG Lipper data.
Investors divested a net $1.58 billion from U.S. equity funds during the week, partially reversing the prior week’s $11.77 billion net investments. U.S. equity growth funds saw net outflows of $5.5 billion, more than offsetting the $3.1 billion in inflows from the previous week, while investors made net purchases of $1.99 billion in value funds.
The S&P 500 rebounded about 6.5% from last week’s low of 7,313.92 to reach a record high of 7,793.68 on Wednesday, supported by strong results from companies including Amazon, Caterpillar, and Palantir Technologies. Investors were awaiting the Labor Department’s July employment report, with economists expecting payrolls to rise by 80,000, and unemployment to remain at 4.2%.
Bond funds, meanwhile, drew net weekly inflows of $6.52 billion, with demand strengthening after $1.26 billion of inflows the previous week. Short-to-intermediate investment-grade funds, short-to-intermediate government and Treasury funds, and municipal debt funds led inflows, and money market funds attracted $55.69 billion after three consecutive weeks of outflows.
Latest closeS&P 500 7,709.96 ▼0.2%