Reported 8 months ago
On June 17, 2024, the Federal Reserve (Fed) chose to hold off on interest rate cuts and reduced expectations for rate cuts this year, even as US inflation continued to cool. The S&P 500 and Nasdaq hit new highs as a result. However, investors exhibited cautious attitudes last week, leading to the largest weekly outflow of US stock funds in 18 months with a net outflow of $21.93 billion. Large funds saw the largest outflow of $14.94 billion, the highest single-week outflow since December 2022. Industry-specific funds saw inflows, especially in the technology sector, while bond funds like US government bond funds and money market funds saw inflows as well.
Source: YAHOO