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 Investors in U.S.-based funds committed $3.7 billion to stock funds
in the week ended July 9 after adding $3.1 billion to the funds the
prior week.
Stock mutual funds attracted $1.5 billion in new cash, while stock
exchange-traded funds added $2.2 billion. Stock mutual funds are
commonly purchased by retail investors, while stock ETFs are thought
to represent the institutional investor.
Money market funds posted net inflows of $15.4 billion, their third
straight week of inflows and their largest inflows since early May.
Investors in those funds "are saying we need to wait and see what
earnings season really looks like," said Tom Roseen, head of
research services at Lipper.
Moving cash into money market funds could help those investors get
ready to move further into stock funds if they see opportunities,
such as a correction, Roseen said.
Earlier this week aluminum maker Alcoa reported adjusted
second-quarter earnings that topped Wall Street's forecasts. The
company, the first S&P 500 company to report results each quarter,
is often seen as a bellwether for the earnings season.
The Standard & Poor's 500 index dipped 0.09 percent from its close
on Wednesday, July 2, through Wednesday, July 9. That week includes
the July 4th holiday, when U.S. markets were closed.
"People are looking at the opportunity to buy in," Roseen said, but
might be wary because "this third quarter at the very end can be a
little bit sluggish as we get into the dog days of autumn."
Taxable bond funds attracted net inflows of $1.5 billion, their
third straight week of inflows.
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Sector Flow Chg % Assets Assets Count
($Bil) ($Bil)
All Equity Funds 3.697 0.09 4,240.367 10,836
Domestic Equities 1.454 0.05 3,134.197 7,881
Non-Domestic Equities 2.243 0.20 1,106.170 2,955
All Taxable Bond Funds 1.503 0.08 1,809.500 5,477
All Money Market Funds 15.405 0.68 2,283.940 1,305
All Municipal Bond Funds -0.790 -0.27 290.763 1,443
(Reporting by Luciana Lopez; Editing by Meredith Mazzilli, Bernard
Orr)
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