A stock picker's market is forming for the first time since 2008 as investors ditch ETFs and pile into single shares, Bank of America says
Investors are snapping up single stocks and moving away from index funds as they target buying opportunities in the US equity market.
Inflows into single stocks cumulatively have climbed to $25 billion on a year-to-date basis while, outflows from exchange-traded funds have reached $9 billion – the widest gap since the global financial crisis, Bank of America Securities said in a Tuesday note about flow trends. The figures point to the"first sign of a stock picker's market since 2008," Jill Carey Hall, who leads BofA's small and mid-cap strategy, said in a weekly update capturing activity among its clients.
Tech stocks are drawing in the most investment money so far this year. Shares of mega-tech companies have climbed recently following better-than-expected earnings reports, with the batch including
France Dernières Nouvelles, France Actualités
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