U.S. Weekly FundFlows Insight Report: Investors Inject $13.9 Billion Into Long-Term Funds And ETFs During The Fund-Flows Week

For the second week in three, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $34.4 billion for Refinitiv Lipper’s fund-flows week ended July 22, 2020. Fund investors were net purchasers of money market funds (+$20.4 billion), taxable fixed income funds (+$11.1 billion), municipal bond funds (+$2.1 billion), and equity funds (+$746 million) this week.

Market Wrap-Up

Despite a rising number of reported COVID-19 cases and increasing Sino-American tensions, the U.S. market continued to rally during the fund-flows week as investors focused on bettered-than-feared corporate earnings reports, a recently signed European Union coronavirus rescue package, and relatively strong economic reports.

On the domestic side of the equation, the S&P 500 Price Only Index (+1.53%) and the Nasdaq Composite Price Only Index (+1.48%) witnessed the strongest returns for the fund-flows week of the broadly followed U.S. indices. Overseas, the Xetra DAX Total Return Index (+2.89%) chalked up the only plus-side return of the often-followed broad-based global indices, while the Nikkei 225 Prince Only Index (-1.17%) witnessed the largest declines.

On Thursday, July 16, the Dow snapped a four-day winning streak as investors weighed mixed corporate earnings results and an increase in U.S./China tensions. While a couple of U.S. banks reported Q2 profits that beat analyst expectations and June retail sales rose 7.5% compared the 5.4% forecasts, Chinese stocks suffered their largest one-day decline since the start of the pandemic. This came after Beijing reported lower-than-expected consumer economic data and the Trump administration proposed a travel ban to the U.S. on members of the Chinese Communist Party. On Friday, July 17, stocks were mixed as investors weighed disappointing consumer sentiment data and assessed the potential for additional U.S. and European fiscal stimulus to combat the impact of COVID-19.

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