Key facts
- Global equity funds saw their first weekly outflow in 13 weeks, totaling $5.87 billion.
- U.S. equity funds recorded their largest weekly outflow in five months, totaling $22.33 billion.
- Nvidia forecast a 70% revenue jump for the next fiscal year.
- Investors continued to favor U.S. bond funds, attracting $7.12 billion in net inflows.
- Money market funds posted a second consecutive weekly outflow, totaling $8.58 billion.
- Federal Reserve Chair Kevin Warsh indicated that the bank will 'have work to do' if inflation does not return to its 2% target.
Global equity funds saw their first weekly outflow in 13 weeks, totaling $5.87 billion, as investors reassessed the outlook for artificial intelligence ahead of Nvidia's earnings and awaited potentially pivotal remarks from Federal Reserve Chair Kevin Warsh. U.S. equity funds recorded their largest weekly outflow in five months, with net sales of $22.33 billion. Nvidia projected a 70% revenue jump for the next fiscal year, easing investor concerns about AI demand despite persistent supply constraints. Market attention has shifted to Warsh's scheduled comments after three Fed officials cautioned that elevated inflation could prove persistent. U.S. bond funds remained popular, attracting net inflows of $7.12 billion, while money market funds posted a second consecutive weekly outflow. Wall Street indexes were muted following Warsh's speech, and an AI-fueled rally cooled. Nasdaq 100 futures saw a slight decline as the AI rally moderated ahead of Warsh's address. European shares rose on Friday, with French stocks rebounding after a selloff.