July 24, 2019 / 3:44 PM / 5 months ago

Investors wade into U.S. stock funds as S&P 500 touches records

    By David Randall
    NEW YORK, July 24 (Reuters) - Investors edged into the U.S.
stock market last week, as the benchmark S&P 500 index hovered
near record highs, by adding $1.1 billion into mutual funds and
exchange-traded funds that hold domestic stocks, according to
data released Wednesday by the Investment Company Institute. 
    The $1.1 billion was the lowest weekly amount of positive
inflows since late February and was less than half the roughly
$2.4 billion investors sent into U.S. stocks the week before. 
    For the year to date, investors have pulled nearly $58
billion out of domestic stock funds even as the S&P 500
continues to hit record peaks. The benchmark index is up nearly
20% since the beginning of the year, thanks in part to
expectations of at least one equity-friendly interest rate cut
by the Federal Reserve this year. 
    Instead, investors continued to rush into bonds by sending
$11.1 billion into taxable and municipal debt funds. That
continued a streak of positive inflows over every full week for
the year to date which has garnered nearly $245 billion into the
category.
    World stock funds, meanwhile, continued to leak assets by
losing $1.8 billion in outflows, extending an 8-week losing
streak. Over the year to date, world stock funds have dropped
$19.5 billion in outflows. 
    
    The following is a broad breakdown of the flows for the
week, including mutual funds and exchange-traded funds: 
     
                7/17/19  7/10/19   7/2/19  6/26/19  6/19/19
 Equity            -718    1,377  -28,756   -8,827   10,128
    Domestic      1,113    2,382  -25,153   -5,417   11,676
    World        -1,831   -1,005   -3,603   -3,410   -1,548
 Hybrid            -170      -46     -560   -1,947     -156
 Bond            11,100    9,858   10,437   10,528    7,932
    Taxable       8,567    7,694    8,811    8,011    6,342
    Municipal     2,533    2,164    1,626    2,517    1,590
 Commodity          237      208      143    1,703      389
 Total           10,449   11,397  -18,735    1,456   18,292
 
 (Reporting by David Randall; Editing by Jennifer Ablan and
Bernadette Baum)
  
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