US equity fund inflows reach three week high
Investors funneled a net 22.37 billion dollars into US equity funds during the week ending May 13 as strong chipmaker earnings pushed the S&P 500 to record highs. While the technology sector saw record weekly investments of 8.51 billion dollars, money market funds experienced net outflows.
Investors injected $22.37 billion into United States equity funds in the week ending May 13, marking a three-week high. This follows the $27.97 billion net purchase recorded in late April. Strong semiconductor earnings and robust revenue guidance drove the surge despite persistent inflationary pressures.
### Semiconductor Demand Drives Record Tech Inflows The technology sector attracted $8.51 billion in weekly net investments, a record high for the segment. Optimism followed strong sales forecasts from Advanced Micro Devices and Microchip Technology. The chipmakers' outlooks helped push the S&P 500 to a record high of 7,517.12 on Thursday.
