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Global equity funds draw fifth weekly inflow on earnings hopes

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Sverige Nyheter Nyheter

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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.

FILE PHOTO: Traders work on the floor at the New York Stock Exchange in New York City, U.S., June 12, 2024. REUTERS/Brendan McDermid/File Photo

Of the 201 S&P 500 companies that have reported earnings so far, 79 per cent beat consensus net income estimates, LSEG data showed. Sectoral funds, however, witnessed $1.58 billion worth of outflows, with the technology sector experiencing $406 million worth of net selling. The financial sector still gained a net $818 million in inflows.

Investors, however, ditched money market funds of a net $52.48 billion, halting a three-weeks buying trend.

 

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