Feeling the pull of the market’s rally? You’re not alone. A curious trend is emerging in the US stock market scene: a huge influx of investors rejoining the game, perhaps driven by that nagging feeling of FOMO.
Records from Bank of America reveal that global fund managers are increasingly leaning into US equities – a move we haven’t witnessed this intensely since 1999.
Why now? The S&P 500 has had an impressive ascent this year, gaining about 15%, leaving many skeptics in the dust, especially when the Federal Reserve’s interest rate hikes were expected to dampen the party.
This rally, combined with a couple of recent dips in big tech stocks, seems to be giving investors a nudge to “buy the dip.” As for the Fed’s next move, there’s a fair bit of speculation: will they push the rate up again in December, or hold off?
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