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United Kingdom

David Randall

Fund investors sell U.S. stocks despite record highs

08 May 2019

By David Randall NEW YORK, May 8 Investors continued to retreat away from the U.S. stock market, despite the benchmark S&P 500 index hitting new record highs last week, according to figures released Wednesday by the Investment Company Institute. Mutual funds and exchange-traded funds that hold domestic stocks lost slightly more than $5.9 billion in outflows in the week that ended May 1. That decline came on the heels of a $7.2 billion outflow the week before. The move came during a week in which the benchmark S&P 500 notched two new record highs, fueled in part by better than expected corporate earnings and the Federal Reserve's decision to hold interest rates steady. For the year, the S&P 500 is up slightly more than 15%. Fund investors have been net sellers during that rally, pulling a total of $19.8 billion out of U.S. stocks. Taxable and municipal bond funds continued to pull in new assets. Overall, bond funds attracted $9.1 billion in inflows, continuing a streak that has lasted every full week of the year and brought in a total of nearly $160 billion in assets. World stock funds, meanwhile, lost a total of $777 million for the week. Investors have pulled a net $5.3 billion from the category in the year to date. The following table shows estimated ICI flows for mutual funds and ETFs (all figures in millions of dollars): 5/1/201 4/24/20 4/17/20 4/10/20 4/3/201 9 19 19 19 9 Equity -5,952 -16,195 4,545 5,815 -7,496 Domesti -5,175 -7,240 3,993 6,215 -7,465 c World -777 -8,955 551 -400 -31 Hybrid -2,474 -131 -976 -122 -3,575 Bond 9,127 9,981 8,809 7,824 11,259 Taxable 6,993 7,597 7,559 6,686 9,767 Municip 2,134 2,384 1,250 1,138 1,492 al Commodity -192 -342 -101 -286 -983 (Reporting by David Randall; Editing by Bernadette Baum)

Healthcare, bullish bets dominate hedge-fund Sohn Investment Conference picks

06 May 2019

Big-name hedge fund managers, including David Einhorn and Larry Robbins, pitched stock ideas ranging from airplane lessors to biotech companies that are working to extend the human lifespan at the Sohn Investment Conference in New York on Monday.

RPT-Wall St Week Ahead-Record-breaking rally leaving energy stocks behind

05 May 2019

NEW YORK, May 3 The stock market surge since the start of the year that has sent the benchmark S&P 500 index up to new record highs is leaving behind one sector that typically outperforms in an expanding economy: energy.

Wall Street Weekahead: Record-breaking rally leaving energy stocks behind

04 May 2019

NEW YORK The stock market surge since the start of the year that has sent the benchmark S&P 500 index up to new record highs is leaving behind one sector that typically outperforms in an expanding economy: energy. | Video

TABLE-Investors retreat from U.S. stock market despite record highs

01 May 2019

By David Randall NEW YORK, May 1 Investors pulled slightly more than $7.2 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week, ending a two-week streak of inflows into domestic stock funds, according to data released by the Investment Company Institute on Wednesday. The move came amid a rally that pushed the S&P 500 up to two new record highs last week, extending a surge that has lifted the benchmark index up nearly 18% since the start of the year as investors price in the Federal Reserve's decision to pause its rate of interest rate hikes. Despite those gains, investors have largely moved away from the U.S. stock market. Since the start of the year, domestic funds have lost a total of nearly $14.7 billion in outflows, according to ICI data. Bond funds, meanwhile, continued to bring in new assets. Investors sent nearly $10 billion into taxable and municipal debt funds last week, the largest push into the sector since the $11.2 billion garnered in the week that ended April 3. Since the start of the year, bond funds have amassed nearly $150 billion in new inflows, according to ICI data. World stock funds shed nearly $9 billion in outflows, the largest retreat from the category since the $9.3 billion lost during the final week of December. For the year to date, investors have now pulled slightly more than $4.5 billion out of world stock funds. World stocks, excluding the United States, have gained 12.3% over that time. The following table shows estimated ICI flows for mutual funds and ETFs (all figures in millions of dollars): 4/24 4/17 4/10 4/3 3/27 Equity -16,195 4,542 5,811 -7,496 -11,085 Domestic -7,240 3,993 6,210 -7,465 -10,896 World -8,955 549 -400 -31 -190 Hybrid -131 -976 -122 -3,575 -199 Bond 9,976 8,809 7,824 11,265 7,884 Taxable 7,592 7,559 6,686 9,773 5,528 Municipal 2,384 1,250 1,138 1,492 2,356 Commodity -342 -101 -286 -983 141 Total -6,692 12,273 13,227 -789 -3,259 (Reporting by David Randall; Editing by Lisa Shumaker)

Climate change has U.S. fund managers adjusting agriculture investments

01 May 2019

NEW YORK After historic floods devastated Midwestern agricultural states this spring, some fund managers are evaluating how climate change will affect the long-term value of companies that make or sell products ranging from tractors to fertilizer.

Strong stock and bond markets at odds over global growth

23 Apr 2019

NEW YORK It looks like something has to give in global markets.

RPT-ANALYSIS-Strong stock and bond markets at odds over global growth

22 Apr 2019

NEW YORK, April 21 It looks like something has to give in global markets.

TABLE-Investors jump back into U.S. stock market after two-week retreat

17 Apr 2019

By David Randall NEW YORK, April 17 Investors sent a net $6.2 billion into mutual funds and exchange-traded funds that hold U.S. stocks last week, ending a two-week retreat from the domestic stock market, according to data released Wednesday by the Investment Company Institute. The move back into the U.S. stock market came amid a rally that has sent the benchmark S&P 500 up by nearly 16 percent since the start of the year, thanks in part to the U.S. Federal Reserve's unexpected decision to pause its series of interest rate hikes. Despite that rally, investors have pulled a net of approximately $11.4 billion out of U.S. stock funds over the 14 full weeks of the year, according to ICI data. World stock funds, meanwhile, lost a net $400 million, continuing an eight-week losing streak. For the year-to-date, world stock funds have pulled in approximately net $3.8 billion. Bond funds brought in about net $7.8 billion last week, continuing a streak of positive inflows over every full week of the year to date. The outsized inflows into bond funds at the expense of equity funds at a time when the economy is strengthening could soon lead to a reversal as investors increase their appetite for riskier assets, BlackRock chief executive Larry Fink told Reuters in an interview on Tuesday. "We still saw, as an industry and at BlackRock, outflows in equities and this is one of the reasons why I believe the market is getting set up for huge inflows into equities," he said. The following table shows estimated ICI flows for mutual funds and ETFs (all figures in millions of dollars): 4/10 4/3 3/27 3/20 3/13 Equity 5,811 -7,496 -11,085 -2,145 12,310 Domestic 6,210 -7,465 -10,896 1,474 12,827 World -400 -31 -190 -3,619 -517 Hybrid -122 -3,575 -199 -636 -1,420 Bond 7,814 11,275 7,884 10,552 11,322 Taxable 6,676 9,783 5,528 8,660 8,807 Munis 1,138 1,492 2,356 1,892 2,515 Commodity -286 -983 141 393 207 Total 13,217 -778 -3,259 8,163 22,419 (Reporting by David Randall; editing by Jennifer Ablan and Cynthia Osterman)

RPT-Lyft's stock slide casts long shadow on Uber's IPO

11 Apr 2019

April 11 Uber Technologies Inc may face a cooler reception from investors than expected when it prices its initial public offering next month since smaller U.S. ride-hailing rival Lyft Inc's aggressive stock launch and subsequent fall.

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