US Stocks Draw Record Weekly Inflows as Investors Pile Into Tech

US stocks attracted a record $37.5 billion in weekly inflows last week, with investors primarily directing capital into the technology sector, according to strategists at Bank of America Corp. This surge in investment marks the largest weekly inflow on record for US equities. The technology sector, in particular, saw significant attention, reflecting a broader trend of renewed investor confidence in growth-oriented assets. The inflows suggest a strong appetite for risk among market participants, with a notable concentration in large-cap tech companies. This trend was observed despite ongoing macroeconomic uncertainties, indicating a belief among investors that the technology sector is poised for continued expansion and profitability. The data from Bank of America covers the week ending April 10, 2024, and highlights a significant shift in investor allocation strategies.