Investors are Pouring Money into Stock Funds

Investors are Pouring Money into Stock Funds

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.

Equity mutual funds recorded withdrawals of $2.8-B during the week, according to the ICI.

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

Date Symbol Price Technical Analysis Support Resistance
24 May 2018 QQQ 169.47 Neutral (0.22) 169.00 170.72
24 May 2018 DIA 248.11 Bullish (0.25) 246.84 254.07
24 May 2018 SPY 272.77 Bullish (0.25) 271.19 274.41

Stay tuned…

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