US stocks saw biggest inflow since June on day of Trump's election win: Bank of America
Published On Nov 8, 2024, 1:56 PM
Investors invested $20 billion into U.S. equity funds on the day after Trump was declared the winner of the presidential election, marking the largest daily inflow since June. The inflow was particularly strong in financial sectors, which saw $2.9 billion in investment—a record for that sector. Following Trump's victory, U.S. stock indexes like the Dow, S&P 500, and Nasdaq reached all-time highs, as voters prioritized issues such as inflation and inequality, suggesting prospects for significant tax cuts and spending reductions under a Republican-controlled government.
Stock Forecasts
XLF
Positive
The significant inflows into equity funds, especially in the financial sector, indicate a strong market sentiment in anticipation of favorable economic policies post-election. The potential tax cuts and spending cuts could boost corporate profits, making financial stocks particularly attractive as they benefit from both increased economic activity and higher interest rates.
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