Positive Wall Street input after seven weeks

Mutual funds in the US recorded more inflows for the first time in seven weeks, with Wall Street about to cut its biggest negative weekly streak since the dotcom bubble era.

In particular, according to Refinitiv data cited by Reuters, in the week to May 25, mutual funds in the US attracted net inflows of $ 4.61 billion, recording their first week with a positive balance from April 6 and that with the largest net inflows since March 23.

It is noted that after seven consecutive weeks of losses, the S&P 500 and the Nasdaq are both strengthening the current over 3%, ending as everything shows in their biggest downward series since 2001.

According to Reuters, the upgraded outlook by giants such as JPMorgan Chase and Vans’s parent company, VF Corp., contributed to the climate reversal.

Overall, of the 491 S&P 500 companies that have reported financial results for the first quarter, 78% of them have exceeded market estimates, according to Refinitiv.

Against this backdrop, high-capitalization mutual funds this week attracted $ 9.35 billion in net inflows, the highest in 15 weeks.

At the same time, however, small and medium-sized companies had net outflows of $ 1.42 billion and $ 0.75 billion, respectively.

Overall, equity funds secured $ 0.48 billion in equity after two weeks of sales, but those in equities recorded their seventh-week outflow of $ 2.11 billion.

Industrial securities attracted net inflows of $ 0.77 billion, while the finance and technology sectors saw outflows of about $ 1.2 billion each.

In bonds, investors continued for the 20th week with sales, which amounted to $ 4.94 billion, although this is the smallest amount recorded in the last four weeks.