Stocks
US Equity Funds Post Outflows Ahead of Crucial Jobs Report
US equity funds experienced outflows in the week to August 5, as some investors took profits ahead of this Friday's July jobs report. The jobs data is a crucial input for Federal Reserve rate expectations.
The net outflow from US equity funds totaled $1.58 billion, partly reversing the prior week's net investment of $11.77 billion, according to LSEG Lipper data.
Investors had cashed in gains after the S&P 500 rebounded about 6.5% from last week's low of 7,313.92 to reach a record high of 7,793.68 on Wednesday, buoyed by strong results from companies including Amazon, Caterpillar and Palantir Technologies.