April 5, 2018 / 11:32 PM / a year ago

UPDATE 1-U.S. investors retreat from stock funds for 3rd week -Lipper

 (Adds analyst quote, details on funds, table, byline)
    By Trevor Hunnicutt
    NEW YORK, April 5 (Reuters) - U.S. fund investors pulled
back from the stock market for a third straight week,
withdrawing $11.6 billion in cash in the week ended Wednesday,
in the face of a potential full-blown trade war between the
United States and China, Lipper data showed on Thursday.
    The markets have rocked back and forth over the past week on
shifting sentiments of the likelihood of an all-out trade war.
China retaliated on Wednesday against planned U.S. tariffs by
targeting key U.S. products, though the United States later
voiced willingness to negotiate a resolution.
    "It makes sense that there's money flowing out of equities
with everything we were seeing in the market," said Pat Keon,
senior research analyst for Thomson Reuters' Lipper research
unit. "The market is kind of deciding what to do right now so I
think it is going to be this way for a bit before it settles
    Late on Thursday, President Donald Trump said that he
instructed U.S. Trade Representative Robert Lighthizer to
consider $100 billion in additional tariffs on China after the
country's state media said it would win any trade war.

    Major companies start to report quarterly earnings this
month, with investors expecting strong profit growth. Wall
Street analysts expect first-quarter S&P 500 profits to
rise by 18 percent over the year before, helped by the tax cuts
passed in 2017, according to Thomson Reuters I/B/E/S.
    International stock funds remain a relative bright spot,
with emerging markets-focused funds taking in $636 million
during the week and continuing an unbroken streak of weekly
inflows this year, Lipper said.
    Taxable bond funds attracted $3.5 billion during the week
ended Wednesday, Lipper data showed. Treasury funds took in $3.1
billion, the most since January 2016.
    The following is a breakdown of the flows for the week,
including mutual funds and ETFs:
 Sector                    Flow Chg  % Assets  Assets     Count
                           ($blns)             ($blns)    
 All Equity Funds          -11.605   -0.17     6,805.805  12,127
 Domestic Equities         -11.993   -0.26     4,572.759  8,616
 Non-Domestic Equities     0.388     0.02      2,233.046  3,511
 All Taxable Bond Funds    3.539     0.13      2,708.682  6,009
 All Money Market Funds    1.880     0.07      2,693.384  1,039
 All Municipal Bond Funds  -0.247    -0.06     401.269    1,460
 (Reporting by Trevor Hunnicutt
Editing by Leslie Adler)
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