Investors Have Stampeded Out of Stock Funds for Two Weeks – So How Did the Stock Market Set a New High Every Day Last Week?

by Pam Martens and Russ Martens
Wall Street on Parade

The S&P 500 stock index set a new record high on Friday, closing at 3508.01 – the first time it has ever closed above 3500. In fact, the S&P 500 set a record high close every single day last week. Here’s the actual closing numbers:

Monday, August 24: 3,431.28

Tuesday, August 25: 3,443.62

Wednesday, August 26: 3,478.73

Thursday, August 27: 3,484.55

Friday, August 28: 3,508.01

Refinitiv Lipper has been reporting fund flows into and out of the stock market for the past 18 years. According to Refinitiv Lipper, for the week ending Wednesday, August 26, stock (a/k/a equity) mutual funds and stock ETFs had a combined negative outflow of -$7.8 billion. For the week ending Wednesday, August 19, stock mutual funds and stock ETFs had a negative outflow of -$6.6 billion.

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