US Equity Funds See Outflows Ahead of Crucial Jobs Report

US equity funds saw significant outflows in the week to August 5 as investors took profits ahead of the highly anticipated July jobs report. The data, provided by LSEG Lipper, shows that a net $1.58 billion worth of US equity funds were divested during this period.

This marks a reversal from the previous week's $11.77 billion net investments in US equity funds. The S&P 500 index rebounded about 6.5% from its low of 7,313.92 to reach a record high of 7,793.68 on Wednesday, driven by strong results from companies including Amazon, Caterpillar, and Palantir Technologies.

Investors are eagerly awaiting the Labor Department's July employment report for clues on the interest-rate outlook. Economists expect payrolls to have risen by 80,000 in July after a 57,000 gain in June, while unemployment is forecast to hold at 4.2%.