- Global equity funds witnessed fresh investments in the week through July 24 despite a selloff in leading technology stocks as investors remained optimistic about a still-strong second-quarter earnings season, and potential Fed rate cuts.
Of the 201 S&P 500 companies that have reported earnings so far, 79% beat consensus net income estimates, LSEG data showed.The MSCI's global stock index has still dropped about 1.7% so far this week amid a slump in global tech stocks. Global bond funds, meanwhile, received about $13.35 billion as investors extended net purchases into a 31st successive week.
Among commodities, precious metals funds saw $932 million worth of net buying after about $1.03 billion worth of net purchases a week ago. Energy funds also had $42 million worth of inflows.