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Economy
In reply to the discussion: Weekend Economists Examine (E)sc(h)atology January 24-26, 2014 [View all]xchrom
(108,903 posts)43. Investors Poured Billions Of Dollars Into The Stock Market Last Week Even As Prices Fell
http://www.businessinsider.com/baml-equity-fund-flows-2014-1
NEW YORK (Reuters) - Fund investors worldwide poured $6.6 billion into stock funds in the week ended January 22 on optimism that stocks would push higher this year, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
The new demand brought inflows into stock funds so far this year to $16 billion, following a record inflow of $358 billion in 2013, according to the report, which also cited data from fund-tracking firm EPFR Global.
The inflows came even as the benchmark Standard & Poor's 500 <.SPX> stock index fell a modest 0.2 percent over the holiday-shortened week on some disappointing corporate earnings. The U.S. stock market was closed Monday for the Martin Luther King Jr. holiday.
"If you get a pullback, that's a natural time for people who have been wanting to buy to step in," said Michael Jones, chief investment officer of RiverFront Investment Group, with $4.3 billion in assets.
Read more: http://www.businessinsider.com/baml-equity-fund-flows-2014-1#ixzz2rPqkiKLG
NEW YORK (Reuters) - Fund investors worldwide poured $6.6 billion into stock funds in the week ended January 22 on optimism that stocks would push higher this year, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
The new demand brought inflows into stock funds so far this year to $16 billion, following a record inflow of $358 billion in 2013, according to the report, which also cited data from fund-tracking firm EPFR Global.
The inflows came even as the benchmark Standard & Poor's 500 <.SPX> stock index fell a modest 0.2 percent over the holiday-shortened week on some disappointing corporate earnings. The U.S. stock market was closed Monday for the Martin Luther King Jr. holiday.
"If you get a pullback, that's a natural time for people who have been wanting to buy to step in," said Michael Jones, chief investment officer of RiverFront Investment Group, with $4.3 billion in assets.
Read more: http://www.businessinsider.com/baml-equity-fund-flows-2014-1#ixzz2rPqkiKLG
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