LIVE MARKETS-BofA clients have been net buyers 10 weeks in a row
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
BOFA CLIENTS HAVE BEEN NET BUYERS 10 WEEKS IN A ROW
BofA Securities equity and quant strategist Jill Carey Hall says that last week, with the S&P 500 index .SPX sliding just over 1.9%, clients were net buyers of U.S. equities for a 10th-straight week (+$1.1b).
"Private clients typically lead the buying in Jan., and last week were buyers for the 5th straight week, with MTD inflows as a % of mkt. cap already larger than the typical Jan. They bought both stocks and ETFs, led by the former," writes Hall in her note.
Hall says that institutional and hedge fund clients typically sell U.S. stocks in January, and that last week, hedge funds were sellers for a sixth week in a row and that institutional clients were small net buyers after selling the prior week.
Corporate client buybacks accelerated, but are tracking just below seasonal levels.
In terms of GICS sectors, Hall says that clients bought eight of the 11 groups, led by communication services and healthcare. Staples, industrials and utilities saw outflows last week.
As for ETFs, Hall noted that clients sold growth/value/blend ETFs and large/small/broad market ETFs, "with the largest equity ETF outflows since Sept. '19."
However, she adds that most sector ETFs saw inflows, led by real estate and consumer discretionary ETFs.
Financial and tech ETFs led outflows.
(Terence Gabriel)
*****
FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
TWO-FER TUESDAY: INFLATION COOLS, SMALL BUSINESS SENTIMENT JUMPS - CLICK HERE
U.S. INDEXES CREEP HIGHER IN CAUTIOUS TRADE - CLICK HERE
DEUTSCHE BANK SAYS TRUMP VICTORY COULD BOOST BITCOIN - CLICK HERE
BROADER MARKET ON THE BACK FOOT, BUT MIGHT BULLS CATCH A BREAK? - CLICK HERE
BONDS ENTER FIFTH YEAR OF BEAR MARKET: TIME TO BUY? - CLICK HERE
UK ON INVESTORS' RADAR DESPITE NEW YEAR SELL-OFF - MS - CLICK HERE
WALL STREET POISED TO BUY MORE EUROPEAN BANK SHARES - UBS - CLICK HERE
EUROPEAN SHARES RISE AFTER U.S. TARIFF PLAN TOUTED - CLICK HERE
EUROPE BEFORE THE BELL: FUTURES JUMP, U.S. TARIFF PLANS IN FOCUS - CLICK HERE
BONNE CHANCE, BAYROU - CLICK HERE
Related Articles
3 Things Investors Should Know About BlackRock’s Q4 2024 Earnings
TradingKey - It’s been a massive two years or so for the US stock market as both 2023 and 2024 saw the S&P 500 Index post gains in excess of 20%.
What to Watch When TSMC Reports Q4 2024 Earnings
TradingKey - Semiconductors have been in the news for the past two years on the back of the Artificial Intelligence (AI) revolution. That’s because the chips are powering everything AI – from data centres to large language models (LLMs).
Can Earnings Season Be the Catalyst for U.S. Stocks?
TradingKey - Fears of persistent inflation, driven by strong employment data and Trump’s potential policies, have raised concerns that the Federal Reserve may scale back planned rate cuts. Combined with worries over high valuations and a potential stock market bubble, these factors have increased se
What Impact Will California Wildfires Have on The Stock Market?
TradingKey - Right now in the US, there are ferocious wildfires that are destroying acres of both land and homes in California. Being spread by strong winds, the fires are also heading towards major urban centres, like Los Angeles.
