Investors are Pouring Money into Stock Funds
$DIA, $SPY, $QQQ, $VXX
Investors poured money into US ETFs (stock exchange-traded funds) during the latest week, restoring a Key pillar of support for markets, data from the Investment Company Institute showed.
US-based equity ETFs collected $11.2-B during the week through 16 May, according to the ICI trade group, the most since mid-March’s high-mark for the year in terms of demand.
Along with share-buying by companies themselves, strong demand for ETFs has been a primary support for US equities in their near-decade gallop higher, Goldman Sachs Group Inc (NYSE:GS) research shows.
Including both mutual funds and ETFs, total stock fund sales were $8.4-B, while bond funds took in $5.2-B, the trade group said.
Thursday, the major US stock market indexes finished at: DJIA -75.05 at 24811.76, NAS Comp -1.53 at 7424.43, S&P 500 -5.53 at 2727.76
Volume: Trade on the NYSE came in at 804-M/shares exchanged
- NAS Comp +7.6% YTD
- Russell 2000 +6.0% YTD
- S&P 500 +2.0% YTD
- DJIA +0.4% YTD
HeffX-LTN’s Major US Stock Market Indexes Technical Analysis