Buybacks and ETFs are moving the market as investors shy away from single stocks

Stocks are riding high in 2019 thus far, but recent gains have mostly come through buybacks and inflows into exchange-traded funds while individual equities are shunned, data compiled by Bank of America Merrill Lynch show.

The S&P 500 registered its ninth weekly gain in 10 last week despite the outflow, adding to its sharp gains this year and since the massive fourth-quarter sell-off. Institutions sold individual stocks in every sector except materials and utilities last week, while retail investors dumped individual equities across all sectors. At the same time, institutions bought into ETFs from every sector except consumer staples, communication services and industrials.

Still, the S&P 500 has rallied more than 11 percent in 2019 after dropping more than 9 percent in December. Apparent progress in trade negotiations between the U.S. and China has lifted equity prices in that time. CNBC learned through sources on Monday that talks between the two countries were in the"final stages."

Good... more opportunity for the rest of us.

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