Global Investors Buying US Stocks, S&P 500 at Record Highs
Global Investors bought into US stocks this week which set their longest-ever market rally.
That action declared the end of a “tsunami” of tech fund inflows which have driven the market higher, noting tiny inflows of $0.1-B this week after a huge $22-B came into tech YTD.
Some $2.6-B flowed into equities funds and $0.5-N left bond funds as investors’ risk appetite recovered, while $1.2-B flooded out of Gold funds according to figures from flows data provider EPFR.
The S&P 500 extended its Bull run to 3,455 days Friday, the longest such streak in history by calculations which set the rally’s start on 9 March 2009.
The S&P 500 has been and still is narrow, dominated by Facebook, Amazon, Apple, Microsoft and Google whose total market cap of around $4.1-T is greater than the combined market cap of the smallest 283 stocks in the index.
Never the less overall inflows this week on light volume indicated a cautions return to risk.
US equity funds drew in $4.1-B, leading other regions by far as outstanding earnings growth, driven by tax cuts, set US stocks apart.
European equity funds suffered a 24th straight week of outflows, losing $1.1-B. Since March they have given back all $51-B of the inflows of Ys 2016 to 2018.
Friday, the major US stock market indexes finished at: DJIA +133.37 at 25790.35, NAS Comp +67.52 at 7946.00, S&P 500 +17.71 at 2874.43
Volume: Trade on the NYSE came in light at 611-M/shares exchanged, it is August!
- NAS Comp +15.1% YTD
- Russell 2000 +12.4% YTD
- S&P 500 +7.5% YTD
- DJIA +4.3% YTD
HeffX-LTN’s US Major Stock Market Indexes Technical Analysis for the Week Ended 24 August 2018
Have a terrific weekend