A trader reacts as he works on the floor of the New York Stock Exchange in New York, U.S., March 18, 2020.Extreme times call for extreme moves, Bank of America said on Friday as it detailed investment fund flows in and out of key market sectors.
The September stock market correction is part of a "topping process," but don't expect a big bearish move when the Fed continues to implement easy monetary policies, BofA said.Investors, skittish about rising COVID-19 cases and a lack of additional fiscal stimulus from Congress, pulled funds out of US stocks at the third-fastest pace ever over the past week, according to a Friday note from Bank of America.
The fund flow activity is all part of a September "topping process," but that doesn't mean investors should expect a big bear move in stocks. Partly because monetary policy from the Fed remains easy, and partly because there's no irrational exuberance across Wall Street, according to the note.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Know what follows outflows? Inflows
Heck of a job Brownie
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the last workshop making traditional Portuguese cowbells by hand - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside recent sports media and gambling deals: expert analysis - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
A look inside the Grace Hopper Celebration for women in tech - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If you want to take your website to the first page of Google , SEO backlinks that help increase traffic, increase website ranking contact now
Source: BusinessInsider - 🏆 729. / 51 Read more »
Look inside a 130-year-old church in Vermont transformed into a modern, 5-bedroom home - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
European stocks and Dow futures fall as Goldman slashes GDP view, citing lack of stimulusEuropean stocks dropped and U.S. stock futures weakened on Thursday, as investors have largely given up on the idea that the U.S. Congress will provide new...
Source: MarketWatch - 🏆 3. / 97 Read more »