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On October 3, Bank of America Global Research released a report on Friday, indicating that global equity markets witnessed capital inflows totaling $26 billion last week. Among various sectors, tech stocks emerged as the most significant draw for investors. According to EPFR data, tech stocks attracted a staggering $9.3 billion, setting a new weekly record for the industry.
Despite the U.S. government shutdown triggered by congressional funding disputes, the anticipation of Federal Reserve rate cuts, which are expected to bolster risk assets, propelled stock prices upward. Both U.S. and European markets reached all-time highs this week. Moreover, the AI capital expenditure boom further fueled the surge in tech stocks.
In addition, the gold market experienced inflows of $5.9 billion this week, with gold prices approaching a historic peak of $3,900.
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