Forex
US Equity Funds Post Second Straight Week of Inflows Amid AI Optimism
US equity funds experienced their second consecutive week of inflows through September 30, with net purchases totaling $20.6 billion, according to LSEG Lipper data.
This uptick in investment follows sustained enthusiasm over artificial intelligence, which lifted the Nasdaq Composite to record highs and supported US stocks despite rising Treasury yields reaching 24-year highs.
Investors' appetite for AI memory chips was signaled by Micron Technology's forecast of revenue above estimates on Wednesday. Additionally, a Commerce Department report revealed that US inflation rose less than expected in August, reducing the urgency for the Federal Reserve to raise rates again in October.